“Don’t regulate it into the ground”: European startups and VCs push to pause the rollout of the AI Act
Yesterday, Sifted reported that nearly 30 industry leaders and 20 venture capital firms across Europe sent a letter to the European Commission, urging a delay in the AI Act's implementation.
It’s no longer just EU Member States from the North and East calling for a pause in the AI Act’s rollout - European startups are now joining the chorus.
Yesterday, Sifted reported that nearly 30 industry leaders and 20 venture capital firms across Europe sent a letter to the European Commission, urging a delay in the AI Act's implementation. The signatories' list includes founders from Sweden, Spain, France, Germany, Lithuania, Slovakia, the Netherlands, the UK and the US.
Sifted quotes the letter, which pushes back against the idea that “a delay won’t solve anything":
"A well-calibrated pause does not equate to delay for delay’s sake. It’s about delivering a workable implementation plan — not a rushed ticking time bomb — that reinforces Europe’s credibility and competitiveness on the global stage"
Alexandru Voica, Head of Corporate Affairs and Policy, wrote on X that he hopes any additional time will be used to work more closely with European industry on developing a GPAI Code of Practice that is “simple to adopt” and “globally relevant”. Otherwise, he warned, it could lead to yet another fragmented implementation across EU Member States.
Johannes Schildt, Founder and Executive Chairman of Swedish digital health startup Kry, was direct: Europe needs to “pause”, adding that “Europe can lead in applied AI, but only if we don't regulate it into the ground”.
