We wished to further understand Transnational Knowledge Transfer (TKT) in a not-for-profit context. To accomplish this, we explored, verified, and mapped out the key factors affecting TKT using a four-component framework in the context of publically funded knowledge transfer (KT) projects. The Delphi technique was used to explore, identify, and verify the relevant key factors; twenty-four major factors were identified in the first round and more than half of the experts agreed on the top ten key factors in the second round. In addition, a number of new factors were identified and some findings that contradicted prior research were revealed. Our findings can help practitioners develop a more focused approach in dealing with the most significant factors (or bottlenecks) in KT.