Technology transfer from academic and scientific institutions has been transformed into a strategic variable for companies and nations who wish to cope with the challenges of a global economy. Since the early 1970s, many technology transfer models have tried to introduce key factors in the process. Previous studies have shown that technology transfer is influenced by various elements. This study is based on a review of two recent technology transfer models that we have used as basic concepts for developing our own conceptual model. Researcher–firm networks have been considered as key elements in the technology transfer process between public universities and firms. The conceptual model proposed could be useful to improve the efficiency of existing technology transfer mechanisms.