Independent firm Southern Cross Venture Partners will manage the fund, in which the Australian government is also committing A$100m.

Startup Base Camp will help about 100 internet-related entrepreneurs with CyberAgent taking a stake in what the company is calling the country's largest incubator.

The US-based computer company recruits Jim Lussier from Norwest to head up its corporate venturing unit.

A record number of corporate venturing funds have been raised this year.

The venture capital and entrepreneur respondents to a NVCA/Dow Jones survey also tip Barack Obama to win next year's US election, with Mitt Romney expected to win the Republican nomination.

The fund has made five investments - one investment, heart monitoring company, AliveCor (pictured) - and the money will come from Qualcomm's existing allocation to its corporate venturing unit.

The US-based company, which distributes and monetises mobile applications, has established a $10m venture fund intended to fund indie developers.