From the perspective of business and technologists the main focus of technology transfer is to improve the competitive advantage of firms through the enhancement of customer value. It is envisaged that, through the improvement of competitive advantage, a firm and its partners collaborating in the technology transfer project will gain financial and other strategic benefits. Small and medium enterprises (SMEs) are one of the most vital segments of a nation that significantly contribute to the gross domestic product (GDP) and mobilise scarce resources to the needs of fragmented domestic markets. Promotion of SMEs is deemed as a prominent approach to sustainable development, alleviation of poverty, increasing employment and raising the standard of living. In recent decades, SMEs have begun to utilize technology transfer as a strategic means of meeting challenges posed by the globalisation of business. Due to their small size and skill resource constraints, they cannot carry out internal R&D to generate their own technologies but still need a flow of new technology to be able to compete. This need has created a new niche-market for technology transfer This publication reflects the views and experiences of scholars and policy makers that were deliberated upon during an International Conference on 'South-South Cooperation for Technology Transfer and Development of Small and Medium Enterprises (SMEs)' organised by the NAM S&T Centre at Negombo, Sri Lanka during 18-22 August, 2008. It includes contributions on perspectives of technology transfer and SMEs from several developing countries and presents significant insights on the role of technology transfer in enhancing the competitiveness of small and medium enterprises (SMEs). The material presented in this volume will help the scientific community, policy makers and industrialists in promoting the vital role of SMEs in developing countries.