Scientific research designed to contribute to solving social problems of society is primarily important from the point of view of stimulating economic growth and development. Simultaneously, the legal regulation of the sphere of science is of great importance. Constitutional innovations have laid the foundations for more effective development of academic science, research commercialization, and innovative business development in Kyrgyzstan. The research aims to substantiate the dependence of the economic growth rates on the expenditures for research and the introduction of innovations, as well as public expenditure on higher education in Kyrgyzstan. The research provides a correlation analysis of innovation expenditures and economic growth in Kyrgyzstan. The research results demonstrate a low degree of influence of innovations on GDP growth due to low financing of innovative activities and inconsistent state innovation policy. The authors found the direct dependence of the economic growth of the state on the amount of funding for innovation, as well as the importance of the transition of universities of the Kyrgyz Republic to University 4.0 to ensure their participation in the formation and development of competitive and innovative sectors of the economy. Additionally, the authors argue about the need for consolidated research by scientists from the CIS and the EAEU countries to gain a decent share of the world market for high-tech products because there is sufficient research potential in these countries. [For the complete volume, "Lifelong Learning in Central Asia: Relevance of the Fourth Industrial Revolution. Education in the Asia-Pacific Region: Issues, Concerns and Prospects. Volume 72," see ED676016.]