20,000 million, to technological investments via the new sett

The Ministry for digital transformation and public function It will create the State Society for Technological Transformation (SETT), a public business entity with similarities with the SEPI dedicated to the management and coordination of public investments in the fields of innovation and new technologies.

The Minister José Luis Escrivá He has made the announcement during his participation in the opening day of the Mobile World Capital (MWC), and explained that the creation of the SET It is "one more step in the ambitious process of technological transformation that Spain is starring, which will allow to create synergies between the different initiatives in the avant -garde technological fields, act as a single interlocutor with the main national and international agents, public and private, and take advantage of even better the competitive advantages of the country."

The SET will gather existing initiatives such as the Chip loss, endowed with 12,000 million euros for semiconductors and microelectronics; The background NextTech, with 4,000 million euros to invest in companies with a high component of technological innovation, or the fund of the Hub Audiovisual, with 1.7 billion euros for companies in this sector. This will allow you to have an initial investment capacity of almost 20,000 million euros focused on the main areas of avant -garde technology.

The creation of the sett will allow reinforce technological sovereignty strategic in areas such as Chips designthe new materials o to Investment in technologies with greater capacity for impulse and traction on the rest of the economy. It will also accelerate the adoption of Technologies with greater potential for the improvement of productivity and the impulse of growth in the medium and long term; will lead to public sector transformation, incorporating specialized technological talent; will improve the Analysis capabilities of trends in a sector in which the speed of change is increasingly intense, and will encourage the Public-private collaboration, promoting and consolidating the Spanish digital ecosystem through strategic dialogue.

SETT functions

To achieve its objectives, the Ministry for digital transformation and public function has summarized the main capacities and responsibilities of the SET:

Will be in charge of promotion and investment execution In strategic sectors linked to digital transformation, in particular telecommunications, semiconductors, digitalization or audiovisual sector. To do this, it will identify the strategic sectors and projects, will develop analytical and financial capacities for investment in technologically innovative companies and evaluate the technological and economic-financial viability of the projects.

Will group the participations of the State in high -tech sectors, telecommunications and digitalization to seek synergies with the aim of promoting technological transformation.

Will support companies with activity in Spain, whatever their size and ownership of capital, which are committed to carrying out technological projects of the digital field and emerging sectors related to digitalization, through the granting of credits, the taking of actions or other minority participations representative of the share capital or the granting of subsidies, among other forms of support.

Will integrate the current one State Society of Microelectronics and Semiconductors (SEMYS) to give an impulse to the strategic project for the recovery and economic transformation of microelectronics and semiconductors (belonging chip) through the processes of participation and enhancement of the Spanish semiconductor industry in the different European and international programs, in particular in the field of design, the development of competences, the pilot lines or the manufacture, especially the coordination of the actions related to the Act Chips of the European Union.

Will Business, consulting, technical assistance or infrastructure management and management services related to the semiconductor industry.

Will have a team specialized in investment operations, capitalizing and consolidating truly transformative projects in the technological field, and, in particular, in Venture Capital aimed at promoting investment in startup companies or Scaleups with a substantive component of technological innovation with high traction capacity for the rest of the economy.

Will attract investors and technological knowledge in public-private collaboration to generate industrial capabilities in strategic sectors.

Will perform with financial and promotion measures Related to the actions planned in the audiovisual sector, with the preferential objective of turning Spain into a pole of attraction of industrial production of content and improving the competitiveness of this whole cultural industry.