Abstract Innovations are signifcant for economic and social development in an increasingly globalised world. High levels of investment in research and innovation are crucial for economic competitiveness which makes distinctive improvements to quality of life. Competition on innovation is to create environment for improvements in effciency, quality, and productivity and a growing emerging technologies. The purpose of this paper is to highlight strategies to be adopted for technology and innovation enhancement in global context. An extensive literature review was done to conduct this study. The strategy aims to deliver people and organisations with the initiative to succeed and introduce new resources. There should be continuous rise in the development of the scientifc feld of technology management corresponding to the practical needs of managing technology as the fundamental source of competitive advantage of organisations and economies. Cooperation among governments, enterprises, and universities is the fundamental of an innovation system. Keywords: Technology, Innovation, Strategy, IT Strategy for Technology and Innovation in Global Perspective Gajendra Sharma* * School of Engineering, Department of Computer Science and Engineering, Dhulikhel, Kavre, Nepal. Email: gajendra.sharma@ku.edu.np Article can be accessed online at http://www.publishingindia.com tools and resources which are required for effective implementation. Hoekman, Maskus, and Saggi (2005) state that the optimal policy to promote the international transfer of technology should differ across countries at different stages of the technology development. They opine that policies should be adopted for the development of the local economies and increase technological development. Innovation refers to conduct new things with emerging technology, or performing old things in new ways. Innovation can be adapted to all aspects of human effort such as in arts, sciences, and business. No single area of government policy has monopoly on technology and innovation. Thus the technological innovation strategy has a pivotal role. There is a reliable evidence of continuous growth in the development of technology management corresponding to the practical needs of managing technology as the fundamental source of competitive advantage of organisations and economies (Cunningham & Kwakkel, 2011). A high quality of research and experts are at the heart of the national system of innovation. Without scientifc and technological expertise, new innovation is impossible. Organisations without this ability are confned to adapting other people’s ideas. Incremental innovation is valuable, but it will not reshape economy for the challenges. Technical and commercial uncertainty is one of the common features of innovation procedure in the development of new ideas with the commercial possibilities (Tassey, 2010). Uncertainty of results is linked with the utmost fnancial risks in the funding of new projects. After the innovation of cloud and mobile technologies, the cost of starting a technology has reduced greatly and marketing opportunities have increased so that the market become more competitive. Globalisation has facilitated the best engineering talent in the world Introducton Science, technology, and innovation play an important role in economic and social development of the nation. It is identifed that high levels of investment in research and innovation are important for economic competitiveness as well as to provide innovations in healthcare and environmental technologies which facilitates noticeable improvements to maintain quality of life. Strategy includes policies and actions, and technology comprises