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Basically, technology transfer is the process by which research results are adopted and put into practice to advance a field of science, solve a problem, or as a commercial product.
Why are we concerned about the transfer of technology?
ARS, the lead research agency of the U.S. Department of Agriculture, has a budget of approximately $800 million. The research programs of ARS are focused on solving problems. To successfully solve those problems, solutions developed, through research must be adopted by those individuals and industries that need the problem solved.
Who benefits from the transfer of technology developed at taxpayer expense at a Federal laboratory to a private sector business?
Generally speaking, we all benefit from successful transfer of technology to those in a position to put it into practice. Economists estimate that the Return on Investment (ROI) from public investment in agricultural research is at least 135 to 175%. Successful applications of agricultural rsearch improve profits for producers and help to grow the US economy.