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Is there a way to estimate the number of technologically advanced civilizations

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Is there a way to estimate the number of technologically advanced
civilizations that might exist in our Galaxy? Dr. Frank Drake conceived a way to mathematically estimate the number of worlds that might have beings with technology sufficient enough to communicate across the interstellar space. The Drake Equation, as it came to be known, was formulated in 1961 and is generally accepted by the scientific community.
The Drake Equation states:

N = R*. fp . ne . fl . fi . fc . L
where:

N = the number of possible civilizations in our galaxy with which communication might be possible.
R* = the average rate of star formation per year in our galaxy
fp = the fraction of those stars that have planets
ne = the average number of planets that can potentially support life per star that has planets
fℓ = the fraction of the above that actually go on to develop life at some point
fi = the fraction of the above that actually go on to develop intelligent life
fc = the fraction of civilizations that develop a technology that releases detectable signs of their existence into space
L = the length of time for which such civilizations release detectable signals into space.

 
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