AbstractThere is widespread recognition that Britain should do more to exploit the science base of its universities. Often, the problem is presented as arising from a lack of information or unhelpful attitudes amongst key participants. This paper argues that the high financial risk involved in mounting an effective technology transfer operation could also be a key factor. It concludes that, to succeed, technology transfer must be both in the national interest and the interest of the institutions concerned. A number of specific measures are proposed to help ensure that this balance exists.