This case study examines the events in the transfer of an advanced technology (a text-to-speech reading machine) from the university group that developed the technology to an industrial firm seeking to exploit the innovation. After a brief history of the six-year project, the paper discusses the roles of the participants, markets, and time and cost considerations. A model of technology transfer is presented and policy implications derived from the case are discussed. Emphasis is placed on the need for matching technical competence between donor and recipient, and on the function of a transfer agent in facilitating the social process of technology transfer. 42 references, 6 figures, 4 tables.