What kicked off the Renaissance was a set of conditions irreplicable in the world. For one, you need a whole lost way of life rediscovered, and you need a continent which was beginning to furiously repopulate after a major population culling. These prereqs. don't exist anywhere else at that time that I am aware of, and it's a pretty unique situation even through time. The Byzantines never lost civilization, so they never had to regain it, and authority in the Far East --- but mostly China --- was precipitated on civilization not having ever been lost.
On top of that, the distinctiveness of the Renaissance is not its rediscovery of the ancient scientific works but entirely to do with the fact that it was the rediscovery of the ancient cultural works, the "classics." It was a period enamored not so much by the best of its prehistory but the way of life of its prehistory. That it has to do with technological development is a secondary measure of the Renaissance, if anything.
Anyway, so we need (with specific examples in parentheses):
- A new order (Christendom unites the "barbarian" Germanic tribes)
- Crushed by a few major disasters, transitions, over the course of centuries (Collapse of the Roman Empire, "The Dark Ages," and the Black Death)
- Which suddenly, speedily recovers (Booming fertility filling up an emptied continent)
- As it rediscovers its prehistory (Greco-Roman antiquity)
- And believes it has something to prove (And here is the title of the game)
- Fueled by the clash between that new order and its self-loathing reactionary spirit (Trent vs. The Reformation)
There's a reason why the Renaissance happened in Europe, and that's because there was a "rebirth" that could happen.
If a dynamic Renaissance is implemented into the game, Europa Universalis V will be less historical, not more.