The purpose of this research paper is to investigate how technology has influenced the economic growth of developing countries and what steps are needed to be implemented in the regions of the world such as Latin America and Sub-Saharan Africa. The paper reflects the arguments and the conclusions brought up during the discussion with a student roundtable answering the general research question; 'Are certain developing countries doomed to remain emerging'? In answering this question, the group identified four factors for economic growth: (1) human resources, (2) natural resources, (3) physical capital and (4) technology. Of the four factors technology was the single most significant factor for economic growth in developing countries, although the others are just as important. The group concluded that countries that lead the world in generating advanced technologies and leveraging their full productive capacity can gain a strategic comparative advantage and become an advanced country. Innovation and entrepreneurship are crucial for long-term economic development.