In the 1980s biotechnology was recognized and accepted as a strategic technology by most industrialized countries, and up until today it has touched human lives in all aspects. The biggest impact of biotechnology is visible in the healthcare sector where there is continuous work on research and development of new medication and therapy. Biotechnology is considered an important means of stimulating the economy on a national and global scale and one of the fastest growing innovative industries. Technology transfer in the field of biotechnology is a process of transferring scientific discoveries, methods, procedures, techniques and equipment from one company, organisation or country to another with the purpose of further development and commercialization. The aim of the thesis is to explain the term and process of technology transfer in biotechnology and to determine the factors which are crucial for a successful process. As a confirmation to the theoretical part, an analysis of the current state in Europe and the world was conducted. From the conducted research and the analysis of the results it can be concluded that the investment in research and development and patent protection in the field of biotechnology are key for a successful process of technology transfer which results in economic growth and the increase of competitiveness of countries.