In April 2014 the Board of BTU adopted the proposal of Literary Translation section for the establishment of a new annual prize for literary translation on the name of the first Bulgarian female translator Elena Muteva (1829–1854).
The award is for an outstanding achievement of a young literary translator (a person aged under 35 years with one or two translated books). The prize is awarded for the translation of a particular work published in the period from 1 July of the previous year to 30 June of the current year.