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This work refers to technology embodied as devices, equipment, software or processes primarily developed at universities in developing countries for research or teaching. Sometimes it is also as the result of externally financed projects contracted with industry. Nearly always technology developed at academic R&D groups results in laboratory prototypes. When it is required to define the technology transfer (TT) contract terms for the license of the university patrimonial rights to external funding companies or other interested parties, a question arises: what is the monetary value? In this paper we present a four‐step method for technology valuation based on the identification of specific value points (SVP) related to its development. The final technology value must be within previously defined value limits. The presented methodology is actually being used to valuate some devices developed at the Centro de Ciencias Aplicadas y Desarrollo Tecnológico (CCADET) of the Universidad Nacional Autónoma de México (UNAM).