The paper compares the traditional science-driven model of the acquisition of technology capability with a customer-focused needs-driven model of the creative technology innovation process and engineering method. Based on a new understanding of the technologyinnovation process, it is now apparent that a new and more effective management philosophy has emerged. A transformation is needed both in the management of technology and in the supportive graduate professional education process which will develop engineers in industry for responsible professional leadership of systematic technologyinnovation. The paper sets a new direction in advanced professional education for engineers in industry which matches and supports their stages of continuous growth and development and is implemented concurrently with their engineering practice. This requires a transformation in the organizational culture in both industry and the universities to more fully foster, nurture, and support intrinsic human potential and to unleash creativity and leadership for more effective technology innovation