This paper takes a first step in accomplishing the objective by identifying the main directions of development that relies on innovation projects to increase competitiveness of technology transfer projects. Thus, describing the challenges faced by SMEs with regard to technology development and acquisition and to create tools and policies designed to help them overcome these specific challenges. Considering that SMEs have limited resources and relative inability to absorb the costs and risks associated with in-house technology development, they must often utilise the process of technology transfer to take advantage of the benefits gained by technology and innovation.