I applied for the NOVA EMBA Scholarship because I think it’s a great opportunity to continue my career development and build on what I’ve learned so far. The project came about spontaneously and, in my opinion, is the missing link that will unite Bulgarian farms with people of all ages who believe in a healthy lifestyle
NOVA EMBA Scholarship
AUBG & NOVA Launch Two 50% EMBA Scholarships
Key dates
Application opens
August 17
Application closes
October 16
Finalists presentations
October 24
Awarding ceremony
TBC
For the fourth consecutive year, NOVA Broadcasting Group and the American University in Bulgaria are proud to continue their partnership in supporting purpose-driven leaders. We offer two 50% scholarships for the AUBG Executive MBA program, with two focus areas: Social & Cultural Action and Environmental Sustainability & Green Business.
Award
This year, NOVA and AUBG will grant two 50% scholarships, each covering €9,550 of the tuition fee for the AUBG Executive MBA program.
The scholarships are designed to support inspired, mission-driven professionals whose projects aim to drive positive change in the fields of:
- Social & Cultural Action
For initiatives focused (but not limited to) on:
- Education
- Inclusion of minority groups
- Labor market improvement
- Access to healthcare
- Cultural preservation
2. Environmental Sustainability & Green Business
For projects dedicated, but not limited, to:
- Environmental protection
- Waste management
- Pollution control (air, soil, and water)
- Energy efficiency
- Sustainable urban planning, mobility, and logistics
Competition
Participants have until September 14 to develop and submit their social or environmental entrepreneurship scholarship applications. A special jury composed of AUBG faculty and NOVA representatives will evaluate all entries and select five finalists.
Finalists will present their projects in person to the jury on October 24 at the Elieff Center for Education and Culture in Sofia, home of the AUBG EMBA program.
The two scholarship recipients will be announced at a special awards ceremony. The date will be confirmed at a later stage.
The AUBG EMBA program will begin in January 2027.
Application Steps
The NOVA EMBA Scholarship offers a fantastic opportunity to receive financial support for your Executive MBA studies at the American University in Bulgaria, while working on developing your impact project. To be considered for this scholarship, there’s a specific application process to follow.
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Write a 1,200-1,800-words Impact Venture Thesis that showcases how your business idea will generate measurable social or environmental change. In your thesis, you should identify:
- A specific problem you’re addressing, grounded in real-world data
- Your intended demographic (Who is affected?)
- A proposed approach to how your idea will drive positive change
- A 90-120-day validation plan: provide a structured, time-bound roadmap to testing your idea before developing and implementing it. Propose how you’ll gather raw, empirical evidence from the real world, including tests, interviews, and experiments
- An impact intent: provide 2-3 indicators for measuring your idea’s impact and how you’d measure them
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Write a founder motivation statement (max 500 words), in which you demonstrate why you’re the best suited candidate for the NOVA EMBA scholarship; why and how your business idea is relevant now; and what is your commitment in terms of your business idea and the EMBA program.
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Provide a portfolio of your work, featuring 2-3 examples that showcase your initiative and proactiveness. These can include projects, community leadership, prototypes, and delivery in any context. They must point to your characteristics, and do not necessarily have to showcase experience in building a similar project to the one you’re proposing.
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Provide one recommendation letter from a professional or an educator that speaks to your ability to execute the proposed impact idea, as well as to your personal character.
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Provide a CV that showcases your professional experience, education, relevant certifications and achievements, as well as your personal profile.
Eligibility
The NOVA EMBA Scholarship is open to mission-driven professionals with strong leadership potential who want to tackle social or environmental problems through their business idea and use the AUBG EMBA as a platform to develop and implement their initiative.
Candidates must demonstrate credible proximity to the problem, a track record of initiative, and readiness to commit. It is not a requirement to have already launched your business, and pre-idea and pre-launch candidates are welcome.
Applicants for the scholarship must provide proof of their English language proficiency, as the program is conducted entirely in English.
The NOVA EMBA Scholarship cannot be transferred to a third party and will be awarded only to the individual recipient as determined by the jury.
If the recipient cannot begin the program, the admissions committee may decide to award the scholarship to the next ranked participant.
The scholarship will be received only as a credit toward tuition, applied directly to the student’s account, and cannot be received in cash.
Candidates can submit their NOVA EMBA Scholarship application before admission to the AUBG Executive MBA program. However, in order to receive the scholarship, they must be successfully accepted into the program and meet all requirements for enrollment. The application deadline for the Executive MBA program is October 30, 2026.
FAQs
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The NOVA EMBA Scholarship is a joint initiative between NOVA Broadcasting Group and the American University in Bulgaria that provides two 50% scholarships for the AUBG Executive MBA program. The scholarship supports mission-driven professionals developing initiatives in either Social & Cultural Action or Environmental Sustainability & Green Business.
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No, candidates can apply for only one of the two tracks: Social & Cultural Action or Environmental Sustainability & Green Business.
Applicants must indicate their chosen track in the application form.
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No. You are not required to have already launched your impcact project. Candidates with early-stage ideas, prototypes, or concepts are encouraged to apply, provided they demonstrate commitment, initiative, and a clear understanding of the problem they aim to solve.
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No. You may submit your scholarship application before being admitted to the AUBG Executive MBA program. However, in order to receive the scholarship, you must successfully complete the EMBA admissions process and meet all program requirements. The deadline for submitting your AUBG EMBA application is October 30.
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Strong applications typically demonstrate:
- A clear understanding of a real-world problem;
- Personal or professional connection to the issue;
- Evidence of initiative, leadership, and execution;
- A realistic plan for validating the idea;
Commitment to both the impact project and the EMBA program.
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Each scholarship covers 50% of the tuition fee for the AUBG Executive MBA program, amounting to €9,550. The scholarship is applied directly toward tuition and cannot be exchanged for cash. A total of two winners will be selected, one for each track.
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The AUBG Executive MBA is a part-time program designed for working professionals, and is completed over approximately 20 months. Classes are usually held during the weekend at the Elieff Center in Sofia.
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Participants in the AUBG Executive MBA program are motivated professionals, coming from diverse industries and backgrounds, including business, entrepreneurship, technology, finance, public administration, NGOs, healthcare, and the creative industries. The program offers a great opportunity to connect with other professionals who seek to expand their leadership capabilities and create meaningful impact.
The NOVA EMBA Scholarship in Pictures
From Vision to Impact: Meet the NOVA EMBA Scholarship Winners
