Vietnam-based IT and telecom group CMC has launched a $2.2m innovation fund to help commercialise ideas from several IT-related sectors.

Vietnam-based software and telecommunications firm CMC Corporation has launched a ₫50bn ($2.2m) innovation fund called CMC Innovation Fund, DealStreetAsia has reported.

CMC Innovation Fund will focus on early-stage projects in the cybersecurity, cloud software, internet-of-things, robotics, big data and artificial intelligence sectors.

Publicly-listed CMC will earmark 10% of its annual group profits for the fund, which will support both internal projects and external startups.

The firm launched a $20m fund in 2009 for venture capital and M&A opportunities, according to…