Technology-based innovations fuel the knowledge-based economy, as it creates new industries, makes existing ones globally competitive, and drives future economic growth. In order to reach technology-based economic growth, it is not only necessary to invest capital, intellect and time in technology-related research and development (R&D), but also to execute processes related to technology development trends, diffusion patterns, and the adoption and implementation of technology-based innovations. Nanotechnology has contributed to remarkable advances in the field of science and technology in the past two decades, which have led to significant prospective applications in various technological domains including advanced materials, biotechnology and pharmacy, electronics, scientific tools and techniques, and industrial manufacturing processes. This ultra-small technology will drive a new technology-driven global economy, with revolutionary advances in almost all industry sectors through high utility and demands.