Abstract: Innovation is the source of industrial transformation and upgrading. Innovative talents which are a composite of innovative elements, are the ultimate product of innovative talents cultivation. By constructing an interactive relationship model between innovative talents cultivation and industrial transformation and upgrading, the promotion of innovative talents training through the cyclical upturn of innovation consciousness, innovation ability and innovative contributions on industrial transformation and upgrading, as well as the promotion of industrial transformation and upgrading on accelerating the quantity and quality of innovative talents cultivation were expounded in this paper.