In a £1 billion round of funding by the Industrial Strategy Challenge Fund (ISCF), announced by Chancellor Philip Hammond in the 2017 Spring Budget, projects in battery storage are to receive £246 million over the next four years. According to the government, the investment is made to “seize the opportunities presented by the transition to the low carbon economy.”
Healthcare and medicine are receiving £197 million, robotics and artificial intelligence get £93 million of the total. Numbers for research into driverless cars, future materials manufacturing and space technology are yet to be revealed.
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