PhD program


To promote Scientific Research by providing the best young, up-and-coming scientists with financial support during their PhD phase.

We support highly motivated young people who have creative ideas and pursue higher goals in science in various fields of study: Economics and Finance, Engineering and Technology, Physics and Mathematics.

The Karoll PhD Student Fellowship Program was created to recognize outstanding graduate students doing exceptional work in numerous areas of science.

Our first PhD scholarship student was launched in the fall of 2011. Under Karoll PhD Fellowship Program we provide a 10-month scholarship for a PhD candidate constructive approach is distinguished by innovation, outright and practical significance.

Karoll PhD Fellowship Program 2014

Tanya Slavova, University of Architecture, Civil Engineering and Geodesy, Faculty of geodesy, Geodesy is the winner of the 2014 Karoll PhD Fellowship Program competition.

She was selected after challenging competition and a three-tier selection procedure, on December 2013.

Tanya Slavova, University of Architecture, Civil Engineering and Geodesy, Sofia, Bulgaria

Faculty of geodesy, Geodesy

2006-2011, University of Architecture, Civil Engineering and Geodesy, Faculty of geodesy

Engineer-surveyor, MSc

Bulgarian Cartographic Association – member

Trimble MGIS certified trainer

Bulgarian Geoinformation Company Ltd., Local Trimble MGIS reseller, Engineer-surveyor

Dissertation title: Detection of Underground Cavities by Gravimetry

Abstract: It is proposed a technology on detection of underground cavities in karst environments by gravimetry. The steps include field work, as well as data processing, modelling and analysis, in order to improve accuracy, reliability and efficiency on this task. Spatial information contributes to an overall model of cavities, drawing out opportunities of access and prospective passages. The proposed technology is of interest for land-surveyors and civil-engineers, and the final results are meant for all kind of scientists who need direct access to cavities for their investigations.

The Finalists

Еxcept Tanya Slavova after a highly competitive three stage selection procedure, our PhD fellowships finalists were:

Vladimir Alexandrov, Department of Biophysics and Radiobiology, Faculty of Biology, St. Kliment Ohridski University of Sofia

St. Kliment Ohridski University of Sofia, Faculty of Mathematics and Informatics, Mathematics MSc    

St. Kliment Ohridski University of Sofia, Faculty of Physics, Meteorology and geophysics Department, Physics, MSc    

Dissertation title: Determination of the nutrient deficiency of the plants by means of a biophysical fluorescence-based analysis

Abstract: This thesis examines effects of nutrient deficiency on photosynthetic traits of the plants monitored by simultaneous measurements of the kinetics of prompt and delayed chlorophyll a fluorescence and modulated 820 nm reflection. This dissertation focuses on drought-induced modifications of photosynthetic electron transport in intact leaves: Analysis and use of neural networks as a tool for a rapid non-invasive estimation.

Stoimenka Tonova, CFA, NBU, Teaching courses in Portfolio and Stock exchange markets, Universitat Leipzig, Leipzig, Germany - Erasmus educational program

St. Kliment Ohridski University of Sofia, Finance and Banking ,  MSc    

Certified Investment Consultant, Certified Stock Exchange Broker                                                                           

Dissertation title: Risk management strategies using derivatives

Abstract: This paper gives an analysis of the risk management process and derivatives as a very powerful tool. This thesis explores the role of the different risk management strategies using derivatives. The study examines the historical performance of the investment portfolio of a Bulgarian institutional investor over a period of two and a half years. On the basis of this benchmark portfolio a modified portfolio is created by adding an exposure to riskier securities and at the same time hedging the risk by utilising risk management strategies with derivatives.

Karoll PhD Fellowship Program 2015

The funding duration of the PhD Programme is 10 months.

The Karoll PhD Fellowship Program awards PhD fellowships to outstanding junior scientists who wish to pursue an ambitious PhD project.

The peer-review-based selection process is highly competitive. Applicants should therefore be outstanding in all selection criteria.

Deadlines of application:

Applications materials are due 15 November of each year. Pre-selection takes place about 2 weeks after the respective deadline, and the final selection approximately 2 weeks after the final stage - Phd Student Presentations.

Our jury:

Karoll PhD Fellowship Program grand jury must have 16 to 20 members:

The management team at Karoll Financial Group 

Hristo Iliev, PhD, Department of Physics, Sofia University, our first PhD scholarship student

Maria Vodenicharova, PhD, Assistant Proffesor of Business Logistics, University of National and World Economy, First President of Association of the Ph.D. Students in Bulgaria

Pavlina Ivanova, PhD candidate, President of Association of the Ph.D. Students in Bulgaria

Rosen Teodosiev, Editor-in-chief, Bulgarian Science Publishing

Peter Teodosiev, Editor-in-chief, Bulgarian Science Publishing

It's an honor to be supporting science and technology industry leaders, we're cultivating the next generation of Future Science Leaders.