Bengaluru, Aug 6 : Xiaomi India on Saturday launched the 4th edition of 'Mi Summit' with the vision of enabling B-School students to get hands-on experience with real-world business case studies and problem statements.

The winners will be awarded a cash prize of Rs 2 lakhs, followed by Rs 1 lakh for the runners-up team and pre-placement interviews for both.

"At Xiaomi India, we have always focused on providing opportunities to youth that empower them and help in building a brighter future," Muralikrishnan B, President, Xiaomi India, said in a statement.

"Mi Summit programme was started with the vision of helping the young and bright minds of India to follow their passion and truly understand how the world of business functions," Muralikrishnan added.

In the 4th edition, students from 27 business cchools can form a team of two from the first or second year and submit their participation.

The company said that teams will have to present solutions that resolve a problem and showcase its usability and application in the actual business environment.

Structured in 5 stages, the programme begins with a screening quiz, followed by a pre-campus, campus, and cluster round culminating in the finale at the Xiaomi headquarters in Bengaluru.

All campus round winners will get a Pre-Placement Interview (PPI) offer from the country's leading smartphone brand and stand a chance to win goodies up to 6 lakhs from Xiaomi India.

The top teams from each college will be bifurcated into six clusters, wherein the top two teams from each cluster will be selected for their final presentation.

Xiaomi India said that among participants identified from 27 business schools, this year, wild card entries from non-participating schools are also welcome.

The cluster winners and runners-up will get a Mi Soundbar and Redmi SonicBass Wireless Earphones and a PPI offer, respectively, whereas campus winners stand a chance to win PPI offers.

Launched in 2019, over 7,000 students have participated in Mi Summit.

In the 3rd edition, Xiaomi India reached out to 25 business schools and saw a participation of over 3,000 students.

Xiaomi India brings 4th edition of Mi Summit for B-school participants