In order to effectively promote the development of industry-teaching integration and innovative education model, it is necessary to actively build higher vocational industrial colleges. In this paper, we take the “Colorful Craftsmen” Automobile Repair Industrial College as an example, establish the evaluation index system of industrial college construction, determine the index weights jointly with the improved IF-AHP and CRITIC method, and analyze the evaluation results of the actual cases by using the grey correlation degree method. The influencing factors of talent cultivation development in industrial colleges are examined, and a multiple linear regression model is used to explore, after which a talent cultivation model is proposed for the development of industrial colleges. The results show that the evaluation score for the construction of this automobile repair industrial college is 3.68, which is a good level, and the evaluation of its management system has the best performance (4.07), which is an excellent level. In the integration of industry and education, education concept, curriculum system, practical teaching quality, enterprise participation, guarantee mechanism, and cooperation effect are all significantly correlated with the development of talent cultivation at the 1% level, with the effect of industry-university-research cooperation, enterprise participation, and practical teaching quality being the most prominent, with the coefficients of 0.365, 0.352, and 0.344, respectively. Building a talent cultivation model covering the top-level design of teaching, curriculum teaching, and practical teaching three links of talent cultivation model to promote the cultivation of high-quality talents in industrial colleges.