Economic growth is a tool for measuring the development and progress of countries, and technological innovation is one of the factors affecting economic growth and contributes to the development and modernization of production methods. Therefore, technological innovation is the main driver for economic growth and human progress. Spending on innovation, research and development as well as investment in innovation supports competition and progress. Accordingly, sustainable economic growth is achieved. This ensures the preservation of resources for future generations and the achievement of economic and social growth. Moreover, a sustainable educational level of the workforce, investment in research, creation of new products, and investor access to stock markets will be ensured through the development of the public and private sectors and the improvement of people’s living conditions.