Translating research done in universities and research institutes to products and services in the market takes considerable and sustained effort. Dedicated technology transfer offices (TTOs) and supporting systems are required to achieve this. Starting from attracting the right people, devising flexible models to work with varioius commercial partners (like large and small companies, startups), bringing in external funding to further the technology goals, TTOs can perform a crucial role in commercializing academic technologies. Various strategies followed by TTOs in the US universities are analysed and suggestions to improve the technology transfer process in the Indian context are presented.