Quite an obvious one would involve it occurring on an island. The effects of wars and invasions sweeping across continental Europe destabilised the institutions which would allow it to emerge.

High rainfall also lends itself to agriculture, water power and all the other uses of water in industry.

Ultimately I put it down to education. When large sections of the population become literate, and science can be explored without fear of reprisal or control by government... Then it flourishes. A society which hinders access to education, censors scientific discussion or binds it to certain interests is bound to fail.

As for slavery, I believe it is overstated. Many societies have had slavery and not industrialised. At best, I think slave labour allowed merchants to become wealthy, but is a disincentive to industry as it was in Roman times.