Xiaomi, a leading technology company on Zhongguancun Science Park, was selected among the world's Most Innovative Companies for 2017 by Fast Company on Feb 13.

Fast Company, a world-leading progressive business media brand, announced its annual ranking of the world's 50 most innovative companies, honoring leading enterprises and rising newcomers that exemplify the best in nimble business and impactful innovation.

Amazon ranked first on the list this year with Google and Uber second and third. Six Chinese companies made the list, including Alibaba, Tencent, Xiaomi, BBK Electronics, Huawei, and Dalian Wanda — more than ever before.

"This was not a strategic objective of ours, but a natural result of our bottom-up reporting. The days of dismissing Chinese businesses as mere copycats are long gone," said Robert Safian, editor and managing director of Fast Company.

Xiaomi came the fourth place in the ranking for the consumer electronics sector for "expanding its Mi brand into an internet-of-things ecosystem", next only to Amazon, Google and Apple.

Fast Company wrote that "Xiaomi has seen remarkable international growth — it sold 2 million devices in India in fall 2016 — and hopes its sleek new Mi Mix and Mi Note 2 smartphones will reignite sales in China".

The comments continued, "Xiaomi is also working to upend the narrow perception of its brand: The company's wide-ranging hardware offerings include everything from headphones and fitness bands to tablets and power strips and water purifiers. In 2016 alone, it introduced its first laptop, a set-top box, a robot vacuum, a smart rice cooker, a $29 VR headset, a quadcopter drone, and its MiJia electric scooter, among a slew of other ventures".

Xiaomi aims to become an internet of things powerhouse through its investments. It opened three-dozen brick-and-mortar stores in 2016, with hundreds more in the pipeline. The company has also entered different sectors including artificial intelligence and finance.