About VUZF

Scientific research

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Scientific Research


There is a huge gap in Bulgaria between education, scientific research and commercialization of innovation. Due to historical reasons, these parts of the end-to-end process of innovation have been allocated in separate institutions – Universities, Research Institutes at the Bulgarian Academy of Sciences and enterprises. This diffusion has created a number of obstacles for innovation. VUZF University presents a new model of collaborative interaction, which is needed in order to establish more effective ways to combine innovation, knowledge, learning and creativity.


VUZF University stimulates and supports scientific research and the key goal is to provide a sustainable academic career for its academic body, which guarantees high quality of education and transfer of knowledge to students and the public community.




The mission is to create a new academic environment that is a successful proof-of-concept for Bulgaria and the Eastern European Region and a model for additional value creation for all key stakeholders. By proving values like scientific integrity and excellence, a culture of delivering results, internally and externally collaborative and accountability and transparency, VUZF University shall underpin world-class research and integrated solutions with a solid pursuit of understanding, the development of a unique, extensive and usable knowledge base, and a focus on contributing substantially to stakeholders achieving their needs.




ü  Transfer and exchange knowledge with international partners and contribute to Bulgaria, Greece and the Eastern European region’s development

ü  Cooperate closely with academia, industry and government and engage in high quality research

ü  Enhance cooperation between the partners by further deepening links between the academic community

ü  Provide research opportunities for students and phd candidates.


Key Principles



Produce research outputs that are valid and accurate.



Produce outputs that are independent and objective.


Honesty, Trust and Respect

Maintain the highest degree of integrity, honesty, trust, and respect in our interactions with our donors and clients, as well as private and public agencies and individuals.


Teamwork and Problem Solving

Target the achievement of goals, based on cooperative efforts and collaboration with each other and our donors, and strive to solve problems in a creative and a cost-effective manner.


Learning and Teaching

Continuously develop ourselves, enhancing our talents, skills, and abilities.







VUZF University of Finance, Business and Entrepreneurship, 2015


Thematic Research Areas


Finance Research Area


The recent financial crisis revealed fundamental problems in the concept of development and regulation of the financial sector. The collapse of conventional theories combined with the failure of the attempts to curb the cotangent impact on the economy call for more comprehensive and deeper research in the financial sector area. This is a fertile soil for growing new concepts and policy solutions for resolving the current crisis and avoiding the future ones. The demand for more theory and solid grounded policy responses is vital.


In these circumstances, VUZF University gives priority to the finance area and seeks a balanced combination of theoretical studies and policy related projects. The background and the expertise of the VUZF University focusing on financial sector as well the established team of best experts with international experience in the sector are good precondition for both defining the right topics for research and providing relevant top level analysis and policy recommendations.


Innovation and Entrepreneurship


Innovation is a key policy for Bulgaria, which will be leading the policy agenda as per National Development Plan of Bulgaria until 2020. Entrepreneurship is one of the binding elements of the national innovation system. It is embodied in newly-established companies and is the means of interaction and exchange of information, know-how and technologies among stakeholders in the innovation economy. Entrepreneurship is crucial for both the robustness and adaptability of the national innovation system.

VUZF University has established an Innovation Research Unit in Spring 2013, which comprises of professors and students, who developed interest in the areas of innovation and entrepreneurship. Moreover, the scholars are very active in the public sphere and the unit, organizes regular international workshops, conferences and working meetings, which contribute to the dialogue on what public policies and tools are effectively developing the national innovation system.  


Information and Communication Technology


            The ICT Industry is among the top performing industries of Bulgaria and a large employer. VUZF University has established good contacts with multinational IT companies and collaborates with the respective business associations as well. Topics of high interest for the scholars at VUZF University are related to: a) Business Effectiveness & Efficiency - the ICT usage for non-IT business organizations for improving their efficiency and effectiveness. Looking for IT solutions that could create a completely new models for different kind of businesses (like e-commerce, customers self-service, outsourcing & managed business processes etc.); b) Business Decision-Making Improvement – improvement of the management of the business (like Business Analytics & Intelligence, Enterprise Performance Management systems etc.); c) Regulatory Compliance Assurance – research for finding an IT solution that will help business organizations to be compliant to major EU and local regulations    


Economic and Political Development


             Scholars at VUZF University have interest and knowledge in developing research programs that analyze economic and political developments of Bulgaria and the Southeast European region. They are members of scientific councils, as well as regularly contribute with journal articles, newspapers and strategic documents of the government of Bulgaria.


Sources of funding:


ü  Businesses – major financing is targeted from the business organizations (multinationals and lead domestic companies). They recognize the benefits of research and are ready to finance significant part of it.

ü  EU programs – In the past 3 years, VUZF University has received EU funding for about 1 million EUR. There are a number of measures under the future Operational Program Innovation and Entrepreneurship, Operational Program Education and Science for Smart Specialization, Operational Program Development of Human Resources and others, as well as the Horizon 2020 Program.   

ü  National Science Fund and National Innovation Fund – These are national instruments which fund fundamental research, as well as research outputs that could be commercialized.

ü  VUZF University Internal Funding - In the period between 2010-2015, VUZF university has spent over 500 thousand BGN (ca. 250,000 EUR).



Мore information about the scientific research of VUZF University is available in Bulgarian at: http://publications.vuzf.bg/


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