NOVA EMBA Scholarship

Full scholarship competition for social entrepreneurs.

Key dates

September 15

Deadline for proposals

September 30

Project presentations

October 6

Winner selection

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NOVA Broadcasting Group and the American University in Bulgaria have partnered for a unique opportunity. In honor of the AUBG Executive MBA program’s 20th anniversary, one social entrepreneur will receive a full EMBA scholarship to help bring their idea to life.

Award

NOVA and AUBG will grant one €16,700 scholarship, covering 100% of the academic fee for the AUBG Executive MBA program.

Competition

Participants have until September 15 to develop and submit their social entrepreneurship projects. A special jury will review all applications and select five finalists. The finalists will then present their projects live to the jury members at the Elieff Center for Education and Culture in Sofia, home of the AUBG EMBA, on September 30.

The winner will be announced by October 6 and awarded on October 20 at the gala evening in honor of the 20th anniversary of the AUBG EMBA program.

Application

Prospective students should apply for the NOVA EMBA Scholarship by preparing a 5,000 to 6,000-word business plan that highlights their entrepreneurial initiative with a social focus.

The business plan should be about starting or building on an existing business that solves a social problem of applicant's choice. It is expected that the prospective student will provide the necessary level of detail to present their entrepreneurial idea. Additionally, applicants must attach a professional resume. The business plan should contain the following elements:

Mission

Social or environmental mission

The social entrepreneurship project must have a clear mission that addresses a specific social or environmental problem.

Innovation

This may involve developing new products, services, or business models that can help achieve the project's mission.

Sustainability

The project must be able to generate enough revenue to cover its costs and continue to operate in the long run, while also taking into account its impact on the environment and society.

Engagement

Stakeholder engagement

Social entrepreneurship projects involve multiple stakeholders such as customers, employees, investors, and the local community. Effective engagement with stakeholders is necessary to ensure the success of the project and achieve its social or environmental mission.

Measurement

Social impact measurement

Data on project outcomes should measure its social impact and be used to refine and improve the approach over time.

Management

Financial and operational management

This includes managing cash flow, creating budgets, and ensuring compliance with legal and regulatory requirements.

Feasibility

Project feasibility

The project should demonstrate coherence with available resources, legal framework, and potential constraints in the near future.

Partnerships

Collaborative partnerships

Partnerships can be beneficial, allowing the leverage of expertise, resources, and networks to more effectively achieve the project's mission.

Requirements

Applicants for the NOVA EMBA Scholarship must meet all requirements for enrollment in the EMBA program.

Interested applicants can apply for the scholarship before being accepted into the program, but they will receive it only after completing the application process and gaining admission.

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.

About the EMBA

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