This chapter argues that, in the context of intellectual monopoly capitalism, core-periphery technological gaps widen, reinforcing underdevelopment. We introduce knowledge and data extractivism as specific consequences of intellectual monopoly capitalism in the developing world and assess the feasibility of innovation and upgrading policies in this context. We argue that, under intellectual monopoly capitalism, innovation studies (including the entrepreneurial state approach), as well as Global Value Chains (GVC) and catching-up frameworks, provide unfeasible policy recommendations. Intellectual monopolies generally originate in core countries, yet they operate and profit globally. They profit from cheap labour and fewer regulations, but also appropriate intangibles (data, science, and technology) from non-core countries. We thus delve into the limited enforcement capacity of peripheral states to reap back those profits and elaborate on the limited chances of local firms’ upgrading or catching-up.