Xiaomi has promised to invest in over 100 startups

Lei Jun, the CEO of Xiaomi, has described his company as an “ecosystem empire,” or at least, that’s what he wants it to become. Despite being the rising star in China and rising to challenge the likes of Apple and Samsung, Xiaomi is still facing heavy competition domestically and needs to play things smart if it wants to continue being so successful. In order to do this, the company has announced its plans to invest in more than 100 startups, having already invested in around 20 so far. 

This has been a big week for the Xiaomi ecosystem, as one of the companies in the Xiaomi fold just acquired Segway. The acquisition caught the attention of industry-watchers the world over, but beyond being a big move for purchasing company Ninebot, the acquisition was also a big step for Xiaomi, as it marks the first time a company in its ecosystem has purchased a globally-recognized brand. On Wednesday, Xiaomi CEO Lei Jun spoke with reporters from China’s Southern Metropolis Daily about the acquisition and Xiaomi’s broader plans. The company is, after all, facing growing challenges from domestic tech firms like LeTV that are getting into the smart hardware game. But Lei Jun told reporters that Xiaomi wasn’t concerned about that. Its strategy, he said, is to grow the company into an “ecosystem empire.” With software that can link up anything, Xiaomi can radically increase its product offerings simply by investing in and bringing in new partners in all corners of the internet-of-things industry. To that end, Xiaomi has already invested in more than 20 startups, and Lei Jun said the company plans to invest in a hundred more, and help them copy the Xiaomi model to achieve growth.