The Spanish government, through its state-backed investment vehicle SETT, is investing €6.4 million ($7.3 million) in Amuse Labs, a newly established animation company based in Las Palmas de Gran Canaria, as part of efforts to make the Canary Islands a global hub for children's intellectual property. The move gives SETT a 48% stake in the studio, with animation firm Amuse Studios becoming its second-largest shareholder, and forms part of a wider push to develop Spain's audiovisual sector while attracting international production and investment.

The deal combines $15.1 million in public and private capital and is expected to support animation projects worth up to $22.9 million, allowing Amuse Labs to manage everything from writing and production to distribution, licensing and merchandising as it expands into North America, Asia, the EU and the UK. The investment is projected to create around 40 direct jobs and 150 indirect positions, and brings Spanish government commitments to the Canary Islands' audiovisual industry to nearly $46 million over the past two months, following similar backing for animation studio Anima Kitchent and a venture with South Africa's Known Associates Group.