New developments in bio- and nanotechnologies and also in information and communication technologies have shaped the research environment in the last decade. Increasingly, highly educated experts in R&D departments are collaborating with scientists and researchers at universities and research institutes to develop new technologies. Transnational companies that have acquired various firms in different countries need to manage diverse R&D strategies and cultures. The new knowledge-based economy permeates across companies, universities, research institutes and countries, creating a cross-disciplinary, global environment. Clearly, managing technology in this new climate presents significant challenges.This book comprises selected papers from the 14th International Conference on Management of Technology, which was convened under the auspices of IAMOT and UNIDO on 22–26 May 2005 in Vienna, Austria. It deals with some important aspects of these challenges, and discusses in detail the changing dynamics of innovation and technology management. It will certainly appeal to academics, scientists, managers, and policy makers alike.