What is Technology Transfer?

Technology transfer involves, first, developing new, or improving existing, technologies, and then spreading related information, knowledge, and expertise to the broader society in order to accelerate innovation to advance the Nation's economic, social and environmental well-being; and increase its economic competitiveness. It includes the process of increasing the availability of and access to tools, equipment, devices, objects, techniques, systems and methods of organization that embody such information, knowledge and expertise. Prize competitions are one tool to facilitate this process.

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