The efficient transfer of Intellectual Property Rights (IPR) to industry and business partners is increasingly a key objective for many research institutes. As a vehicle for implementing the appropriate transfer of IPR, a Technology Transfer Office (TTO) can enhance cooperation between research institutes and industry. The potential income from licensing out technology and/or forming start-up companies can be an important factor to consider when developing strategies based upon value creation and exploitation of IP assets in the local context – with benefits that can reach across research institutions, enterprises and society at large. In this context, a TTO has been established within the MRIC.