The independent innovation process and mechanism of technology-based start-ups (TBS) were explored against the background of discontinuous technology change (DTC).  The growth paths of Luming Corporation were discussed by case study.  It is found that original technology innovation is not enough to support the sustaining high-efficiency growth.  Industry integration such as vertical integration through joint venture and direct investment or horizontal integration through technology acquisition and imitation innovation are effective ways to achieve high performance growth for TBS.