The Minister of Digital Transformation and the Public Service, José Luis Escrivá, announced this Monday in Barcelona the creation of the Spanish Society for Technological Transformation (SETT), which will bring together all investments in technological matters and which would include the participation of 10 % that it plans to take through SEPI in Telefónica.
In an intervention before the press within the framework of the MWC technological event, Escrivá explained that he will take the urgent processing of the creation of this new company to the next Council of Ministers, this Tuesday, and that the objective is that in two or three months is underway. Asked if this large digital ecosystem would integrate Telefónica, he responded: “It makes sense to fit it in.”
This new public business entity will start with an investment mobilization capacity of 20,000 million euros and will execute investments in these strategic sectors, such as telecommunications or generative artificial intelligence (AI), he added.
The SETT will also be in charge of developing the industrial ecosystem throughout the semiconductor value chain, which is why the organization will include the State Society of Microelectronics and Semiconductors (SEMyS), currently attached to the State Society of Industrial Participations (SEPI). ).
Other of its tasks will be to support companies in innovative projects, with the Next-Tech fund, dependent on the Official Credit Institute (ICO), and to support and promote the audiovisual sector, has indicated the also head of Public Function.
Thus, he considered that “it makes sense” that the acquisition of up to 10% of Telefónica agreed by the Government would be carried out through this new company, although he specified that it will be “seen over time.”. “More and more countries know that we need to reinforce strategic sovereignty,” said the minister, who has stressed the importance of putting together all the initiatives in these areas, to generate synergies, as well as having specialized teams capable of analyzing investments. and detect trends.