Oct 2, 2024 — Today, ACT | The App Association released a statement from Stephen Tulip regarding the UK Competition and Markets Authority (CMA)’s decision on Amazon’s £3 billion investment into Anthropic:
‘Success for a startup or small business can take many forms, including partnerships or being acquired by a larger company with the resources and knowledge to improve the product and promote it to a wider audience. Regulatory interventions should be based on strong evidence demonstrating harm to competition.
‘We applaud the CMA for making a quick and clear decision that clears the way for investment and innovation, indicating a pragmatic approach and providing certainty to the broader business ecosystem. Our members recently highlighted the need for policies that, at the very least, don’t close off primary pathways to success, including mergers, via a letter sent to global policymakers.
‘The CMA’s decision offers hope to the startup community that UK regulators will not stand in the way of small business innovators taking the steps necessary to grow and create jobs, whether through funding or partnerships.’