The new entity will channel investments from other organizations. The creation project will be processed urgently by the next Council of Ministers. The future public company plans to guarantee national sovereignty in strategic sectors.

At the Mobile World Congress (MWC) with the announcement of the creation of the future Spanish Society for Technological Transformation (SETT), an entity like a digital Sepi that aims to concentrate and manage all public investments in technological matters in the country.The new company could come into action next spring, with an initial financial muscle of 20 billion €.

However, the Executive does not initially contemplate additional budgetary contributions, but will simply concentrate the items dispersed in different technological areas into a single entity. In this way, everything indicates that the company that manages the Perte del Chip funds (endowed with 12,500 million euros), as well as the State Society of Microelectronics and Semiconductors (SEMyS) will channel their contributions into the SETT, and the same will be done by the Spain Audiovisual Hub Fund and the Next Tech Fund.

The minister assured that the SETT will look after a sector in which, for multiple reasons, "it has to have public support and state supervision in its areas of action." According to Escrivá, it is about preserving "what we call economic sovereignty and economic security, which are areas in which the Government must have a proactive, positive, supportive attitude, but also presence from the public point of view."

At another point in his speech, and without going into detail, the minister pointed out that other countries around us have taken similar steps, "so there is no going back." In his opinion, "it is very important that we have a team specialized in carrying out operations that require many experts and a lot of knowledge in specific technologies." And also an advanced team in "how to structure investments and how to monitor capital, the so-called capital planning, and these teams must be part of the administration."

Currently, the aforementioned SEMyS is the tool with which the Government will promote the microchip industry with financing instruments that strengthen that sector. That company, now in the process of integration into SETT, was established in 2022 within the framework of the PERTE Chip to "channel public investments in the sector and promote public-private collaboration."

As Escrivá explained, it makes "complete sense" for the Government to equip itself with a specific company that manages its participation in digital and that channels its collaboration with the private initiative in this area, through specialists and with "synergies." necessary grouped around the Ministry of Digital Transformation.

In accordance with the Government's plans, the so-called Spain Audiovisual Hub now has an expiration date as such, once its funds are transferred to the SETT. The hub for Spanish cinema and series, which is part of the Spain Digital 2025 strategy, aims to improve the attractiveness of Spain so that it becomes a prominent international platform for attracting production, business and investments in the audiovisual sector. . Therefore, attracting foreign investment and converting Spain into a pole of attraction for the audiovisual sector will soon be the task of the SETT. At the same time, the new company will inherit other activities of the hub, such as the reduction of audiovisual production costs, with the consequent improvement in competitiveness.

On that occasion, the person responsible for the country's digital policy pointed out the search for consensus to promote the development of the country's technological capabilities based on existing strengths, "promoting strategic investments", which now find their mechanism of action through the SETT.