Technological innovations: application, prospects, development trends

Abstract

Innovations play a decisive role in the country’s economy, as they allow making scientific discoveries, improving production, and creating a fundamentally new product. The main goal of the research is to study technological innovations for determining prospects and development trends. Evaluation, comparison, analyzation and systematization methods for data were used throughout the research. Road construction was chosen as the object of the study. Themonitoring result of the innovation development strategy is the definition of boundaries of financing the fundamental and applied science sectors.Support for the commercialization of developments and an assessment of the country’s existing innovative potential are also identified. The obtained results allow determining the main application areas of technological innovations.