The Council of Ministers , at the proposal of the Ministry for Digital Transformation and Public Function , has approved this Tuesday an investment of 20 million euros through the Spanish Society for Technological Transformation (SETT) for the implementation in the capital of Ítaca Films Madrid , a content studio with an international vocation.
The €20 million public contribution is part of a total €45 million public-private partnership , along with Grupo Ítaca and investor Grupo Omegas Capital, which is attracting capital from several countries . The project plans to launch a €419 million production plan and 26 audiovisual productions over ten years .
The deal brings an already established company to Spain. With over 90 titles produced in 18 countries and working relationships with leading international studios, platforms, and distributors , Ítaca operates as a content studio: developing, producing, and distributing audiovisual projects throughout their entire lifecycle. Its parent company, founded in 2010 in Mexico, specializes in film, television, digital platforms, and new formats.
The decision to implement the project in Spain —and to channel international capital towards it—is based on a consolidated audiovisual ecosystem with top-tier creative and technical talent , a competitive tax incentive framework, and privileged access to European and Latin American markets . Spain is thus reinforcing its position in the global audiovisual value chain and its attractiveness as a destination for foreign investment in the sector.
The project also anticipates a significant impact on employment in Spain , with the creation of skilled and stable jobs linked to production activities. It is estimated to generate between 20 and 40 direct, permanent jobs and an average of nearly 900 direct and indirect jobs annually associated with filming and the suppliers and services that each production mobilizes in sectors such as technical support, hospitality, transportation, and logistics.
The plan also incorporates a technological transformation component that links audiovisual production with skills development using new technologies . This focus strengthens the technological business network and skilled employment, in line with the commitment to the sector's digitalization and the objectives of the SETT (Spanish Society for Technology and Innovation).
This operation is part of the second phase of the Spain Audiovisual Hub Plan , an initiative that is part of the Recovery, Transformation and Resilience Plan, and financed by the European Union – Next Generation funds – and is led by the Ministry for Digital Transformation and Public Function , through the State Secretariat for Digitalization and Artificial Intelligence (SEDIA) .
Alongside the Spain Audiovisual Hub , SETT manages two more financial instruments to boost the technological business ecosystem: PERTE Chip , dedicated to microelectronics and semiconductors, and Next Tech , which encourages private investment and improves access to financing in strategic Spanish sectors linked to digital transformation.
cloud technology axon
Suma Capital ended the fiscal year with 12 funds and investment strate...
