This is what worked for me.
First, get the latest version of the MiP App for iPhone or Android (I used an iPhone).
Turn on your MiP (be sure there are good batteries in it as well).
Turn on Bluetooth on the phone, then launch the MiP App. The app should show an Update screen. (It's possible that the phone may also need to have internet access as well.)
Run the update (took less than 2 minutes in my case).
If the update completes, your MiP's eyes should light up and the unit should start working as normal. If this doesn't work, contact the manufacturer.