IGIR/IPKM expert lectures with Kiril Velitchkov on "IP-Backed Finance and Innovation – Opportunities and Challenges"
Introduction IGIR/IPKM lecture series
The IGIR/IPKM expert lecture series addresses topics in the field of Innovation, Trade, Investment and Competition Law that are relevant to for today’s society. We invite speakers from academia and private practice to share insights on recent developments and to stimulate a debate with staff and students, in an informal setting.
All are welcome to attend.
Upcoming Lecture
The next lecture will take place on Thursday 19 November 2026, from 18:30 to 20:30, featuring Chief Assist. Prof. Kiril Velitchkov, PhD, Director of MA “Intellectual property and technology transfer”, joint programme of WIPO, Sofia University and Bulgarian Patent Office, in partnership with EPO, EU-IPO, CEIPI, USPTO.
Lecture title: IP-Backed Finance and Innovation – Opportunities and Challenges
Abstract
Intellectual property and other intangible assets have become increasingly important drivers of innovation, competitiveness, and enterprise value. Yet their potential as a source of finance remains significantly underexploited. This lecture explores the emerging field of IP-backed finance and examines how patents, trademarks, software, and other intangible assets can facilitate access to finance for innovative companies, particularly SMEs and asset-light businesses. It also explores the broader link between IP-backed finance and innovation development, including the role of access to finance in supporting the creation, commercialisation, scaling, and market adoption of innovative products, technologies, and business models.
The lecture examines the main barriers preventing financial institutions from recognising IP as a bankable asset, including valuation uncertainty, information asymmetry, limited secondary markets, legal and regulatory constraints, and the lack of standardised approaches.
Drawing on international case studies, emerging European initiatives, and the lecturer’s extensive practical experience, the lecture approaches the topic from several complementary perspectives: the banking sector, including his work on IP-backed finance within the Belgian KBC Group; the EU policy perspective through participation in the EUIPO–European Commission IP-Backed Finance Steering Group; and the perspective of European credit guarantee institutions through his role as Special Advisor to the IP Task Force of the European Association of Guarantee Institutions (AECM).
The lecture explores how IP valuation, credit guarantees, risk-sharing mechanisms, and public financial instruments can help overcome existing barriers and support innovation financing. Particular attention is given to the evolving roles of banks, guarantee institutions, policymakers, and European financial instruments in developing a more effective, accessible, and sustainable IP-backed finance ecosystem, as well as to how such an ecosystem can contribute to stronger innovation development and competitiveness.
Combining academic insight with real-world practice, the lecture also incorporates proactive audience engagement throughout the session, encouraging participants to discuss case studies, assess key challenges, and explore practical solutions.
Bio Kiril Velitchkov
Chief Assist. Prof. Kiril Velitchkov, PhD, Director of MA “Intellectual property and technology transfer”, joint programme of WIPO, Sofia University and Bulgarian Patent Office, in partnership with EPO, EU-IPO, CEIPI, USPTO.
Kiril has been a member of the Department of Business administration, Sofia University since October 2023. He teaches in the subjects IP-Backed Finance, Digital Business and Innovations, Learning Organization and Management of the organisations. He has also taught in the Master's program in Finance at the New Bulgarian University (2007 – 2014); at the Diplomatic Institute at the Ministry of Foreign Affairs (2011 – 2012) and at the Institute for Public Administration and European Integration (2004 – 2008).
Kiril is Director of European Projects and Financial Instruments directorate at UBB, Member of KBC Group (since 2007) and UBB Interlease (since 2020) – leading Belgian financial group; Manager of KBC Group European Financial Instruments Competence Centre (since 2015) incl. IP backed finance; KBC Bulgaria Entrepreneurship development leader; chairs the Bulgarian Association of Banks European Financial Instruments working group; Member of BCCI Investment Council executive committee; represents KBC Group in the Vienna Initiative lead by World Bank, International Monetary Fund, European Investment Bank, European Bank for Reconstruction and Development; acts as a Special advisor to IP Task force at the European Association of Credit Guarantee Providers (AECM) and is member of the IP-Backed finance steering committee lead by the European Commission and European Union Intellectual Property Office.
He has over 30-years of experience in private, public and NGO sectors. He has worked at Phare and Socrates EU programmes; the Center for Study of Democracy where he was coordinator of the European programme; the Goethe Institute where he was responsible for the EU programmes within SEE. He worked also at the pharmaceutical sector. He consulted Bulgarian and foreign ministries and was an independent expert of the European Commission and Financial Instruments consultant of the World Bank.
Kiril completed a PhD in European Financial Instruments and the link with the human capital in 2003. He has authored over 40 publications, including monographs, textbooks, reports, and articles in Bulgaria and abroad on the topic of European financial instruments, organisational development and human resources.
