Technology development as a major and vital strategy for sustainable development and knowledge-based economy is an inevitable fact which must be studied from various aspects and the benefits of its different approaches also be considered. The paper discusses the concept More
Technology development as a major and vital strategy for sustainable development and knowledge-based economy is an inevitable fact which must be studied from various aspects and the benefits of its different approaches also be considered. The paper discusses the concepts of technology development, technology transfer, technology cycle as well as the industrial ecosystems required for their proper utilization. Considering and using the concept of technology cycle in technological processes within a proper environment can create sustainable economical value and facilitate the TBF & TNBF activities. The reasons why technology cycle in a proper environment can make sustainable economical value through models of innovation enhancement, promotion of research investment, increasing the technological training capacity and extending research institutions are also discussed and studied.
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