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The Importance of Technology Transfer

The process of transferring technology involves the signing of a license between a technology owner and a recipient country. Firms like Konoike and Kajima have benefited from technology transfer by bringing capital goods and technology to Tanzania for building roads and bridges. The recipient country then buys the license from the source and uses it to develop its own industries. The process is similar to that of a soft drink company selling a technology to another country.

Often overlooked in the process, the human capital of universities and other research institutions is an important factor in technology transfer. In order to translate research discoveries into a viable product, these individuals must be trained and educated to develop and commercialize the technology. The majority of university-industry collaborations are built around education, training, and relationships with businesses. While the economic development benefits of technology transfer are not yet clear, there are several key aspects that will help you understand the importance of transferring technologies.

The first step in the process of technology transfer is the identification of the technology. This step is often done through market research or journal scanning. The transfer of technology involves giving up intellectual property rights and giving up ownership of the underlying technology. While licensing only grants access to a technology, it does not transfer ownership. In contrast, transfer of ownership involves transferring both intellectual property rights and the underlying technology. If the transfer of technology has been successful, the recipient country will benefit from it.

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