I don't think that's correct. If you are looking for a one-sentence "how did the Industrial Revolution start" summary, I wouldn't use this.
My recollection was that things kicked off with the first mechanized mills, locating along streams which used hydraulic or steam power for their energy.
EDIT: The book describing this is called Behemoth: The History of the Factory by Freeman. You can read read relevant pages in the book preview online.
Checking Wikipedia, that seems mostly accurate:
> Rapid industrialization first began in Britain, starting with mechanized spinning in the 1780s, with high rates of growth in steam power and iron production occurring after 1800.
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