Technology transfer is an important part of the technological innovation process, promoting scientific and technological research and the associated skills and procedures to wider society and the marketplace. Tech transfer allows research to develop from the discovery of novel technologies along the value chain to disclosure, evaluation and the protection of these breakthroughs. From here, marketing, licensing and further development of products allow the research to become an impactful product, process or service for society. In addition, the financial returns afforded by a successful product can be reinvested into further research to begin the cycle again. As a result, technology transfer creates revenues for universities to use for faculty recruitment, funding and more research. Companies are able to tap into the advances brought about by this academic research without having to spend on internal R&D to create new products to drive business forward. The advantages of successful technology transfer can be felt through national and regional economies via growth through innovation, new ventures and stronger industry to boost employment. Finally, there are benefits for society as a whole, whether that is saving lives, better health, a cleaner environment, and technical advances to deliver new capabilities, products and services.