The Agency for Innovation and Technology Transfer (AITT) of the Academy of Sciences of Moldova (ASM) was established in the end of 2004 with a view to implement the state policy in the field of innovation and technology transfer. The AITT: a) organized the implementation and monitoring in 2005 - of eight technology transfer projects financed from the state budget in the amount of 1.6 million lei, in 2006 – of 27 projects financed from the state budget in the amount of 3 million lei, in 2007 – of 43 projects financed from the state budget in the amount of 5.7 million lei. b) Worked out Law on Science and Technology Parks and Innovation Incubators No.138-XVI which was passed by the Parliament on 21 June 2007. The law has two important peculiarities in comparison with similar laws of other countries: 1) The parks and incubators regulated by this law are “virtual”, i. e. they are not limited in a closed space but can have as residents physical and juridical persons situated in any geographic point of the country. 2) The residents of science and technology park and of innovation incubator are granted with fiscal and customs incentives which are very seldom granted both numerically and in volume, and namely: - Exemption from payment of VAT (20%) on goods and services imported from abroad; - Exemption from payment of VAT (20%) on goods and services bought on the territory of the Republic of Moldova; - Exemption from payment of customs taxes (5%) on imported goods and services. c) Worked out and promoted the National Innovation Strategy for 2008-2011 through governmental institutions up to the stage of approval in the Governmental meeting for the first time since the country became independent.