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Research Projects for VUZF University in partnership with Copenhagen Business School
Research Projects for VUZF University in partnership with Copenhagen Business School
08 December 2016

Prof. Sudhanshu Rai, Indian Relations Director and professor on innovation at the Copenhagen Business School (top 5 in the world business schools rating), visited VUZF University on 5-7 December.
Prof. Rai manages a research lab on social entrepreneurship, which works on projects with Brazil, Denmark, Finland, India, South Africa, USA, and now Bulgaria.
Prof. Rai met with Assoc. Prof. Evgeni Evgeniev, Vice-Rector for European Projects and Further Education and Chief Assistant Dr. Radostin Vazov, Executive Director at VUZF University to talk about concrete ideas for cooperation in the research field. Potential areas for this collaboration are projects in the space of innovations, technology commercialization and social entrepreneurship.
Prof. Rai confirmed his interest also to serve as scientific supervisor of one of our candidates for PhD position in the new PhD Program at VUZF University, which is a high recognition for VUZF University.

Open Mind project
Open Mind project
05 December 2016

Open Mind is VUZF University of Finance Business and Entrepreneurship Erasmus+ project (in partnership with seven other institutions), which aims at promoting Social Entrepreneurship to female learners and students from non-business studies through an innovative gamified open online course.

Despite the positive impact that social enterprises have on the economy and society in general, currently the majority of entrepreneurship courses are offered in business and economic studies, so in fact most students have no possibility of taking part in entrepreneurial courses and programs. Eurostat and GEM data show that two-thirds of young people and women in European Union believe they do not have the knowledge or skills to start a business, which is one of the most significant barriers to business creation.

Investing in entrepreneurship education is one of the highest return investments Europe can make, the Entrepreneurship Action Plan 2020 stresses. This requires the transversal competences, required in social entrepreneurship to become mainstream – not only for students in business studies, but also for those in humanities, arts, sciences and technologies.

To address these challenges, 8 organizations from Bulgaria, Greece, Poland, Romania and UK will jointly develop and pilot an innovative gamified open online course in social entrepreneurship for women and students from non-business studies. The initiative involves: VUZF University of Finance, Business and Entrepreneurship (Project Coordinator), Business Foundation for Education, “D.A.Tsenov” Academy of Economics and the technological company 11235 Ltd from Bulgaria; Institute of Entrepreneurship Development in Greece, University of Lodz - Poland, University Titu Maioerescu – Romania and theUniversity of Sheffield, UK.

In the next couple of years the partnership will produce three main intellectual outputs:
1. Massive online open course (MOOC) “Introduction in Social Entrepreneurship” for women and students from diverse fields of study.
It will introduce students to the fundamentals of social entrepreneurship: identify opportunity, create a business model, prepare a business plan, attract investors, learn how to establish, effectively manage and communicate the activity of a social startup, etc. The course will also contain an E-book of 50 inspiring female social start-ups.

2. Innovative gamified online platform that will use game design elements to create a highly participative and inspiring learning environment, in which students will explore business concepts and develop key entrepreneurship skills and mindset, while dealing with real cases and challenges. The platform will operate in five  languages (EN, BG, GR, PL, RO) and will be maintained at least until 2020. 60 trainers will be trained to provide ongoing support to learners. At least 600 students will be enrolled in the course till the end of the project.

3. Impact assessment report will help outline the major outcomes of the project and attract strategic support for the initiative after the project lifetime. It will be presented during the final events in partner countries.

Gamification is one of the latest trends in the e-learning community that uses game mechanics and characteristics like goals, missions, rules, playfulness, elements of fun, feedback, reward and promotions, applies them to solve the real-world business problem and rewards target user behaviors. Studies show the positive impact digital games and gamification have on learning: they improve self-confidence, motivation and positive engagement with learning; support the development of problem solving and social skills.

Project No: 2016-1-BG01-KA203-023754 
This project has been funded with support from the European Commission. This communication reflects the views only of the author, and the Commission cannot be held responsible for any use which may be made of the information contained therein.  

Partnership between VUZF University and Republic of Korea and recent visit of Korean experts in Bulgaria
Partnership between VUZF University and Republic of Korea and recent visit of Korean experts in Bulgaria
10 November 2016

In June 2016, VUZF University signed two partnership agreements with SUNGKYUNKWAN UNIVERSITY and HANYANG UNIVERSITY, which provide opportunities for cooperation in research projects, researcher mobility and student mobility. These leading Korean universities have substantial achievements in the STEM areas (science, technology, engineering and mathematics).

As per partnership agreements, VUZF University will provide opportunities for its researchers and students to visit South Korea in 2017 and learn first-hand from experiences of the economy, which has been ranked No.7 in terms of innovation in the global world. VUZF University partners successfully for several years with the Embassy of the Republic of Korea in Bulgaria. In 2014, our university hosted for a lecture H.E. Shin Maeng-ho, Ambassador, whereas in 2015, in partnership with the Emabssy, we organized an international conference in the capital of Bulgaria, called “Bringing Korea’s Experience in Innovation, Education and Science in Bulgaria”, (http://ino.vuzf.bg/korea/).

This week, researchers at VUZF University took part in the second visit of the Knowledge Support Program (KSP) of the Korean government, which involved Korean experts and Bulgarian senior researchers. It took place on 7-8 November in Sofia. The KSP Program was launched in August 2017, which included three research projects, namely: a) Capital Markets, where we find Prof. Daniela Bobeva as one of the lead experts under a project, led by the Economic Research Institute of the Bulgarian Academy of Science; б) Promotion of small-and-medium sized businesses, led by the Bulgarian Promotion SME Agency, and в) Governance Mechanism for the Promotion Agency for Research and Innovation (PARI), where we have Prof. Evgeni Evgeniev (Vice-Rector at VUZF University) as a lead expert in a project, led by the Ministry of Education and Science.

In the framework of the second visit, Korean experts offered their expertise in a workshop, organized at the Economic Research Institute of the Bulgarian Academy of Science on November 7th. The project, led by the Ministry of Education and Science, organized separate meetings for the Korean experts with representatives of the private sector and the academic sector on November 8th.

In January 2017, the Bulgarian experts shall visit Seoul (Republic of Korea), while in February 2017, Dr. Shin Teayong and Prof. Evgeni Evgeniev will present a report, which analyzes the governance mechanism of the Bulgarian innovation and research system and offer recommendations for the establishment of a new PARI Agency and its functioning. Prof. Bobeva and a team of Bulgarian and Korean experts will present a report related to developments of the Bulgarian capital market, based on Korean experience.

Our students at VUZF University are gradually becoming more interested in Republic of Korea. Last month, Dobromir Kondov, our Finance Master Program student, defended successfully a master thesis, entitled “Knowledge support Program of the Korean Government and its economic impact on partner countries”. Prof. Evgeni Evgeniev was his scientific supervisor, while Prof. Daniela Bobeva served as his reviewer.


In Bulgaria, financial innovation comes with 10 years of delay, reported financial forum organized by the Association “Bank of the Year” and VUZF University
In Bulgaria, financial innovation comes with 10 years of delay, reported financial forum organized by the Association “Bank of the Year” and VUZF University
14 June 2016
Bulgaria lags behind the global innovation in funding for ten years, but this is not necessarily a bad trait. It allows to avoid phase errors and switch directly to, proven as workable, solutions for users. Around this thesis the participants in the financial forum “Innovations” had united. The forum took place on June 14 in Sofia for a third consecutive year, and is organized by the Association “Bank of the Year” (ABY) and VUZF University.

The forum was opened by the Chairman of ABY Valentin Panayotov, the VUZF University rector Prof. Grigorii Vazov and Deputy Governor of BNB Nina Stoyanova. The event gathered the entire financial and banking elite of Bulgaria, representatives of academia, the international banking sector. Moderator of the second panel was VUZF University CEO Ch. Assist. Prof. Dr. Radostin Vazov.

According to the presented during the forum researches, status quo of Banks in Bulgaria is not yet threatened by competition from financial companies, but in the medium term prospects are that they will bite a substantial share of their business. This first will become apparent in the segment of consumer financing.
By 18 September Bulgarian National Bank (BNB) will launch site on which will allow comparison between bank fees. Until then, must be adopted the necessary legislative changes. That said Nina Stoyanova, deputy governor of the central bank and head of sector “Banking” at the opening of the forum. In late July, is expected to eliminate the practice of bank reporting of transactions and payments between local and foreign persons and cross-border transfers, which exceeds BGN 100 000. These changes come under European directives, but among them the sector preparing hard for the onset of the global trends in banking.

Expectations in the industry is that because of the inclusion of financial companies in the market over the next 10 years, the revenues of banks in consumer lending will suffer by 40% and their profits – by about 15%. This will be the result of the “stolen” customers, rather than deleted margins from interest, fees and commissions. Besides threats, the competition and digitization wear benefits as well, for banks – the estimates are that thanks to them there will be a contraction of 30% of costs and a significant improvement in efficiency.
The University of Finance, Business and Entrepreneurship is organizing conference on topic \
The University of Finance, Business and Entrepreneurship is organizing conference on topic \
09 June 2016

The University of Finance, Business and Entrepreneurship is organizing а conference on topic "NEXT LEVEL: Global Technology Commercialization Experience for Bulgaria". The conference will be held on 31st of May, 1 pm-5.45 pm, at Sofia Tech Park, John Atanassov Building. Top foreign and Bulgarian keynote speakers will meet you at NEXT LEVEL.

If you are a large company and you have a proven record of results in terms of market share or revenue in the last several years, but you want to expand your business in new territories or new segments in the global market;
If you are an SME company and you have a service/product that is technology-driven or innovative and you strive for a “quantum leap” in your development.

If you are a Start-up or  lab/research unit/team of scientists, that has great ideas, but need knowledge, financing or partners to give life to it and to create the “next big thing” out there.

More info about the event: http://nextlevel.guide/

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