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This paper aims to present correlation between patent grants which can be described as innovation indicator and R&D activities, number of researchers and business ownership rates which is recently be upward tendency. Innovation implies that processes of renewal and regeneration commercialized along with a process or product innovation result. Patents emerge with efforts which basically aim to protect innovation through a particular system. Patent grants as an indicator of innovation, R&D activities, entrepreneurship rates and number of researchers which are related to innovation process are variables of study. The parameters of subject variables were calculated by Panel Data Analysis method and findings of model were interpreted at the level of the variables and supported by suggestions [ABSTRACT FROM AUTHOR]

It is a well-known fact that there is a significant relationship between technology and economic development. Technology can be defined as the knowledge which is necessary for production. The countries producing and using technology are those which have developed economies. On the contrary to this the countries which do not produce technology are supposed to be underdeveloped from the point of economics. On the other hand, the economic development is the rise in the capacity of good and service production. The indication of this is the bigness of GDP and GNP. Robert Solow, one of the distinguished economists, added technology to the development theory. The most important indicators of technology are the studies of research and development (RD), patent application, export and variety of products. It seems to be difficult for the Turkish economy with its growth rates at present to catch the economies of the developed countries in the years ahead. However, it is possible to close down this difference with some measures such as increasing the share of RD which is appropriated from national income to 2 % and establishing science-cities. [ABSTRACT FROM AUTHOR]