Founder and Stakeholder Interests: Combining Economic and Societal Factors in the Balkan Peninsula

  • Veneta Andonova
  • Milena S. Nikolova
  • Dilyan Dimitrov


In this chapter, we use phenomenological analysis to discover how founders’ identity and the associated venture identity interact with investors’ interests in the genesis of ventures that combine private economic interest and societal purpose in the Balkans. There are different ways in which founders make sense of the intended venture in relation to a larger set of norms determined by the private economic versus societal purpose. Successfully financed Balkan ventures with a recognizable societal purpose crystallize their business models and generate both private economic and societal value by balancing founders’ identity and sensemaking and investor interests.


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© The Author(s) 2019

Authors and Affiliations

  • Veneta Andonova
    • 1
  • Milena S. Nikolova
    • 2
  • Dilyan Dimitrov
    • 3
  1. 1.School of ManagementUniversidad de Los AndesBogotáColombia
  2. 2.American University in BulgariaBlagoevgradBulgaria
  3. 3.SofiaBulgaria

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