The modern world is based on data and information flows, and information and communication technologies (ICT) are ubiquitous in the modern digital age. They are tailored to meet the needs of different industries. Technology transfer is an essential factor in the national innovation system of the country and in the society as a whole. It contributes to sustainable development, improvement and knowledge building; moreover, it is one of the main drivers of growth and competitiveness. In the authors’ efforts to improve the innovation indicators of Latvia in terms of knowledge and technology results, statistical data have been aggregated and scientific literature reviewed with the aim of evaluating relevant concepts of technology transfer, as well as its role in the national innovation system of Latvia. Through the research conducted and the results obtained, the authors of the research have substantiated the need to develop a new information technology model based on information technology standards, marketing and commercialisation processes, as well as technology transfer handbooks.