Combine the yeast, sugar, water and milk in a jug and stir to combine. Place in a warm area for 5 minute or until bubbles appear on the surface.
Add the flour and cinnamon in a bowl and mix to combine and make a well in the center. Add the oil and yeast mixture and mix to form a dough. Remove from the bowl and place on a lightly floured bench and knead for 5 to 6 minutes, or until smooth and elastic. Lightly oil a bowl and place the dough in the bowl and cover with a damp tea towel and set aside for 1 hour, or until doubled in size.
Preheat the oven to 200 Celsius (400 Fahrenheit) and roll out the dough into a 55cm (21.5 inches) by 25cm (10 inches) large rectangle. Spread the strawberry jam over dough and sprinkle with chocolate chips.
Roll the dough lengthways (from the long edge) to cover the filling, as you would a swiss roll. Then take a sharp knife and cut lengthways through the dough down the middle. This will reveal the jam filling. Turn the cut pieces of dough so the jam filling is facing up.
Place the dough halves onto baking paper cross the ends over each other to form an X shape and pinch the two of the ends together to seal. Begin braiding the dough, crossing each piece of dough over the other to form a rope. Check out this video if you aren't quite clear on the process.
Curl the braided dough to form a circle, making sure the jam filling is facing up, and fold the two ends of the braid together to complete the circle.
Transfer the baking paper onto a baking tray and brush with milk and sprinkle with raw sugar and bake for 15 to 20 minutes or until golden and cooked through.