Technology Transfer to a Developing Nation

Technology transfer is an important condition for sustained growth. The article reviewed in the scope of this paper is titled “Challenges in Technology Transfer from Developed to Developing Countries.” In it, the authors discuss several barriers in implementation of new technological solutions for waste management in Middle Europe. Waste management and disposal is widely utilized in the countries of Western Europe. The EU realized the economic, ecological, and health benefits of the process and has built up the infrastructure to support it. However, the introduction of the same principles in some of its developing members such as Serbia, Hungary, and Romania, has encountered certain issues associated with technology transfer. According to Ragossnig and Vujic (2015), the primary barriers to technology transfer in any country are as follows:

• Lack of legislation or economic-based demand. Without demand, neither the government nor private investors would provide the financial resources to facilitate technology transfer.
• Lack of political stability. The introduction of new practices and technologies takes at least 5-10 years on average. Without political stability and a stable course for innovation, the process is likely to be stopped halfway.
• Lack of funds. This barrier is related to the issues presented above. Without any investors or political stability, it is unlikely to gather enough funds to complete the technology transfer project.
• Lack of public acceptance. If people oppose the introduction of new technologies, any venture is doomed to failure. There must be a public demand for a technology transfer, before it can be introduced.

Ragossnig and Vujic (2015) state that the process of technological change must start with clear and steady political signals, which would influence public acceptance rates and prepare a basis for attracting investors and gathering funds. The conditions described in the article are similar to other areas, such as healthcare.