OUR COMMUNITY     Facts About Technology Transfer

Technology Transfer (TT) Process

TT processes can be defined as steps through which technology or knowledge developed in one place or for one purpose is applied and used in another place; e.g. steps which will turn an invention into a product. Technology transfer of this invention can occur through 

developing the invention within the company, 

licensing the invention to another company,

integrating the new technology into an existing company, 

starting or spinning off a new company, or 

exporting the invention to or importing it from an institution of another country.

In either case, the TT process has to be planned with care in order to make it a success. Business planning, which involves new technologies, requires the thorough consideration of a number of key aspects beyond technology knowledge: a good understanding of customer needs and product characteristics; competitive intelligence about market size, sales and service requirements, competitors, competitive and alternative products and technologies, costs and pricing; human resources; and how to obtain funds to set up and run the enterprise. 

The Technology Transfer Process flow chart below shows the key steps which have to be followed in order to turn an invention into a profitable business. OttoConsulting could provide its outstanding services in the following:

1. a new technology has to be assessed, among other things, regarding its

a. novelty,
b. patent protection strength,
c. competitive advantages,
d. the status of its development versus manufacturability.

2. customer needs have to be understood


3. the product has to be specified


4. market intelligence has to be collected to determine

a. how many customers would be buying the product?
b. how much would they pay for it?
c. how would they buy? and
d. what the subsequent product sequence would be?

5. after these steps are completed, the technology has to be looked at again:

a. is the new technology applicable as is?
b. which other technology components does the product need?
c. how can these components be incorporated?
d. what does it take to achieve project feasibility?


After these steps are worked out and feasibility is established, a meaningful business plan can be laid out and written which will

  • excite investors and corporate partners and will make them eager to become a part of that enterprise, and which will

  • pave the way from product development through manufacturing, marketing, sales, and service to a company with sustainable profits and growth.

Why are OttoConsulting’s services superior?

OttoConsulting has unique advantages in providing the best results:

  • OttoConsulting employs project-specific experts and companies, including information-selective data banks. In addition, 

  • OttoConsulting uses strategic planning techniques, including resource-based, value-chain, and five-force analysis models; targeted customer interview methods; weighted market data selection and SWOT techniques; and product development management, lean manufacturing, and six sigma techniques. Above all,

  • OttoConsulting makes specific efforts to take into consideration the distinctiveness of the client’s human resources, organizational structures and policies, which will be essential in order to make the TT process successful.