A pledge to fund £270m of research in robotics, next-generation batteries and biotech announced in Wednesday's Budgets was dismissed by the industry as woeful despite being a key pillar of the Government’s industrial strategy.

The Treasury announced the first phase of its “Industrial Strategy Challenge Fund”, an effort to back groundbreaking technologies being developed by UK tech companies and universities.

Research teams will have to compete for funds aimed at solving three key challenges: batteries that can power electric cars, artificial intelligence and robots that can be used to replace humans in dangerous environments such as nuclear stations and oil rigs, and new ways of manufacturing medicines.

High-tech research and development has been seen as central to Theresa May’s industrial strategy and the three areas are seen as one that the UK can lead the world in.