Technology transfer and innovation management have become critical drivers of economic development, organizational competitiveness, and industrial transformation in the knowledge-based economy. Technology transfer refers to the movement of scientific knowledge, technological innovations, skills, and intellectual property from one organization, institution, or sector to another for commercialization and societal benefit. Innovation management involves the systematic planning, implementation, and control of innovation processes to create value and achieve strategic objectives. This study examines the relationship between technology transfer and innovation management, explores key models and mechanisms, identifies factors influencing successful technology transfer, and analyzes challenges and future trends. Findings indicate that effective technology transfer accelerates innovation, enhances productivity, strengthens collaboration between academia and industry, and promotes sustainable economic growth. However, barriers such as intellectual property concerns, organizational resistance, funding limitations, and regulatory complexities continue to affect transfer effectiveness. The study concludes that strategic innovation management and efficient technology transfer mechanisms are essential for fostering competitiveness and long-term organizational success.