Over the years there has been an increased belief in university’s role as contributor to innovation. This has led to new policies that further have led to establishment of technology transfer offices (TTO) at most universities. This thesis analyses the characteristics of the technology transfer process of a newly established Norwegian TTO. The introduction of a TTO as a new actor in an already established relationship between university and industry denotes some tensions. These tensions are illuminated in this thesis through the study of the NTNU TTO and the selection phases of the technology transfer process against the backdrop of previous studies of TTOs and the concepts of national innovation systems and the “triple helix”. Five phases of selection are identified: (1) research phase; (2) assessment phase; (3) development phase; (4) proof of technology phase and finally (5) transfer phase. This model captures the different actors and their relations. The analyses show that the NIS and the triple helix are complementary, and not contrasting, concepts for analysing the technology transfer process and the relation between the participating actors. Further it argues that several tensions are evident in the technology transfer process. This is apparent in TTO’s relations towards its owner, the researchers, the industry and the system as a whole.