The REBECA mentoring
The REBECA BG Mentoring Program
We are pleased to announce that the REBECA BG Mentoring Program is now established on an ongoing basis, providing continuous support for early-career researchers, doctoral students, and academic staff. The next mentoring session will start soon. The initiative is designed to foster professional development, networking, and career transitions beyond academia, offering tailored mentoring, practical training, and opportunities to connect with experienced professionals from various fields.
"Meet Science with Business" Café
On June 6, 2025, the Scientific Entrepreneurship Hub in Bulgaria (SciEntBG Hub), in collaboration with the University of National and World Economy (UNWE), held the event "Meet Science with Business" Café. The meeting brought together researchers, entrepreneurs, PhD students, and representatives from institutions and companies to discuss ways to stimulate scientific entrepreneurship, promote technology transfer, and foster collaboration between academia and industry. The event was opened by Assoc. Prof. Dr. Kostadin Kolarov, Director of the Institute of Entrepreneurship at UNWE, outlined a vision for sustainable partnerships between science and business.
Practices of Scientific Entrepreneurship
On 28 April 2025, the Hub for Scientific Entrepreneurship in Bulgaria hosted a webinar on “Practices in Scientific Entrepreneurship.” The event featured leading experts, including Assoc. Prof. Dr. Kostadin Kolarov (UNWE), who shared his experience in entrepreneurship research, and Dr. Nedislav Veselinov, a scientific entrepreneur, who discussed the journey from research to business creation. Participants from universities and institutes across Bulgaria and abroad learned about entrepreneurial opportunities, practical challenges, and solutions in launching research-based businesses. The event fostered open discussion, idea sharing, and collaboration, strengthening the bridge between science and entrepreneurship. The Hub will continue to serve as a platform for dialogue and joint problem-solving in scientific entrepreneurship. The webinar also introduced participants to EURAXESS network opportunities, project results in HPC+ technologies, and upcoming activities of the Hub.
Science-Based Enterprise Creation
On 25 February 2025, the event brought together researchers, entrepreneurs, and experts to explore the journey from scientific innovation to successful business ventures. Assoc. Prof. Kolarov presented on key principles and approaches in scientific entrepreneurship, emphasizing the importance of commercialization and effective intellectual property (IP) management. The training featured expert insights from Radostina Halacheva (Unified Innovation Center, BAS) on Bulgaria’s supportive IP regulations, and Svetlana Dimitrova (Sofia University) on the global EURAXESS Hubs network. Prof. Dr. Vessela Kazashka highlighted the Center for Plant Biology and Biotechnology in Plovdiv, with particular emphasis on talent exchange initiatives and support for women in science. Participants discussed what defines a scientific entrepreneur, the steps from research to business, and how to move from idea to market-ready product. The Hub continues to support researchers in turning scientific results into business ventures, helping to strengthen Bulgaria’s innovation ecosystem.
Empowerment Entrepreneurship (BAMDE’24)
On September 2–5, 2024, the Scientific Entrepreneurship Hub in Bulgaria (SciEntHubBG) was featured at the 12th International Conference on Empowerment Entrepreneurship (BAMDE’24) in Albena, Bulgaria. This event brought together leading experts, entrepreneurs, and academics to discuss the future of entrepreneurship and building a sustainable future. During the conference, the SciEntHubBG team presented the project “Converging Academic and Practical Expertise with the Scientific Entrepreneurship Hub.” The presentation emphasized the Hub’s pivotal role in fostering collaboration among researchers, industry stakeholders, and innovators, advancing sustainable business practices in Bulgaria and across the EU. As part of the EURAXESS StartUp Hub network, SciEntHubBG supports startups and researchers by providing access to key resources and expertise. Reflecting the conference’s focus on sustainability, the Hub highlighted its initiatives to drive Bulgaria’s green and digital transformation by connecting academic research with market needs.
Practice of Scientific Entrepreneurship
This lecture explores the key steps and challenges in transforming a scientific idea into a viable business opportunity. Dr. Kolarov discusses the crucial difference between an idea and a real opportunity, emphasizing that not all scientific ideas meet market needs or are worth pursuing. He highlights the importance of understanding user needs, validating ideas through feedback and market research, and critically assessing resources and competition. The lecture covers practical approaches for idea validation, risk reduction, and accelerating business development, drawing on international best practices and local Bulgarian experience. Dr. Kolarov outlines the entrepreneurial journey - from patenting and market testing to forming startups and technology transfer. The presentation addresses the necessary skills for scientists-turned-entrepreneurs, strategies for building effective teams, and decision-making processes for academic professionals considering entrepreneurship. The talk provides actionable insights to support a pragmatic, evidence-based approach to launching successful scientific enterprises.
What Is a Startup and How Can It Succeed?
The Fotonika experience shows that successful scientific entrepreneurship begins with recognizing a genuine need and taking action, even when resources are scarce. The founders didn’t wait for ideal circumstances or outside investment—they used their own funds to renovate their workspace and started developing solutions that mattered to their community.
A key lesson was understanding value creation: Fotonika always aimed to build products that solve real problems and offer clear benefits, ensuring that the value to users exceeded the production costs. Rather than chasing grand ambitions right away, they started with small, practical projects—like building a flight simulator—to prove their abilities and build trust with customers.
Funding was secured gradually, moving from personal networks (family and friends) to competitions, grants, and accelerators. The founders were cautious about taking on investors, preferring to retain control over their company and its mission, even if that meant slower growth at first.
Fotonika also benefited from strong networks and expert mentorship, collaborating with universities and international specialists to overcome technical challenges. Hard work and commitment were essential—long hours and persistence helped the team overcome setbacks and skepticism, even when they faced the risk of failure or running out of funds.
Over time, these practices paid off. Starting from a garage, Fotonika became a profitable and respected enterprise, trusted by clients and partners. Their journey demonstrates that scientific entrepreneurship depends on initiative, adaptability, practical problem-solving, and a willingness to grow step by step while maintaining independence and a focus on real impact.
Approaches to Valuing Intellectual Property as a Company Asset
The lecture explores how intellectual property (IP) gains value as a company asset, emphasizing that its worth comes primarily from the exclusive rights it provides—allowing owners to block competitors and capture economic benefits. Dr. Kolarov explains that IP’s value is only realized if it generates direct economic gains or adds value to other business assets, such as brand reputation or technological advantage. The lecture outlines three main valuation approaches:
- The market approach compares the IP to similar assets traded in the market.
- The cost approach looks at the expenses involved in developing or replacing the IP.
- The income approach focuses on the future revenue or profits that the IP is expected to generate.
Each method has its strengths and limitations, and the right choice depends on the context, available data, and the type of IP. Dr. Kolarov also highlights practical challenges, such as unique features of each invention, rapid technological change, and the need for pragmatic, business-oriented thinking. He cautions against common mistakes—like overvaluing IP based only on sunk costs or underestimating its market potential. Ultimately, effective IP valuation requires both legal protection and an understanding of the real market and business environment in which the asset operates. Success depends not just on innovation, but also on practical use, commercialization strategies, and timely alignment with market needs.
Handbook
This practical handbook guides researchers, innovators, and aspiring entrepreneurs through turning a scientific product or idea into a successful business.
The guide includes the following key chapters:
- The Bulgarian Economy: Specific Features and Development Trends
An overview of Bulgaria’s economic environment, highlighting opportunities and challenges for new businesses. - Specifics of the Scientific Products Sector and Finding the Right Business Idea
How to identify promising scientific and intellectual property-based ideas for commercialization, with attention to the unique features of research-driven businesses. - Developing a Business Model for Your Future Company
Step-by-step instructions for building a sustainable and scalable business model tailored to science-based products. - Funding Opportunities and Resource Acquisition
Detailed guidance on where and how to seek financial support, including grants, investors, and partnerships relevant to Bulgarian and European contexts. - Business Management After Launch
Practical advice on managing, growing, and sustaining your new company beyond the initial startup phase.
The handbook is available upon request from: kkolarov@unwe.bg
