Based on the perspective of industry growth and characteristics of R&D industry, this paper summarized the nature and key factors of R&D industry growth, eight propositions and a model was provided. It is shown that: in the process of the industrial growth, high-quality sci-tech talents is the main force, excellent entrepreneur is the soul of the industries, and technological innovation is an important support to R&D enterprises. At the same time, government action is a strong power to R&D industry growth, financing ability to directly affect the development of enterprises, market demand is the pulling power, and norm of the institutional environment and perfect trade market system to promote the growth of R&D industry.