The University represented in His Excellency the Vice Rector, Dr. Musalam bin Mohammed Al-Dossari, and the Vice Dean of Information Technology Dr. Adel bin Mohammed Al-Saeed participated in a workshop (The Initiative of Technology Transfer Between Universities and the Business Sectors), which was held under the auspices of the Minister of Education Dr. Azzam bin Mohammad Al Dakhil, in the ministry building on 16 Rajab 1436 AH corresponding to May 5, 2015. The workshop was opened instead of the Minister of Education by Dr. Abdulqadir bin Abdullah Al Fantookh (Undersecretary for Planning and Information). In this context, His Excellency the Vice Rector pointed out that this workshop had discussed the topics of innovation and technology transfer where a function of universities to contribute in economic growth. This workshop aims to create an initiative to transfer technology between universities and the business sectors, and to create a development and coordinating program to transfer technology between Saudi universities and business and industry sectors to stimulate economic growth in support of Kingdom orientation towards a sustainable economy and knowledge-based, as the third function of universities no longer limited to job teaching and research scientific only, but it extended to include the function of technology transfer and innovation. which represents a response from the university institutions with global variables and developmental needs to promote the role of universities in building the knowledge society and its economy. His Excellency pointed out the importance of having empirical research work carried out by universities in cooperation and coordination with the business sectors which is leading to innovations and inventions marketable, and contribute to the stimulation of the economic sector and diversifying the sources of income, and encourage to create job opportunities for the people of the community. It is worth mentioning that this workshop has attended the presence of Vice Rectorship and representatives of the business sector and economic experts, where it discussed the mechanisms of technology transfer and the role of universities in this, and the optimal parameters of relationship between business and educational institutions in order to ensure the achievement of the objectives of both, and contribute to the progress of society and its development. It is worth mentioning that this workshop has attended the presence of Vice Rectorship and representatives of the business sector and economic experts, where it discussed the mechanisms of technology transfer and the role of universities in this, and the optimal determinants of relationship between business and educational institutions in order to ensure the achievement of the objectives of both, and contribute to the progress of society and its development.