The statement you've provided contains several inaccuracies regarding the first modern Olympics. Here are the true points about the first modern Olympics:
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Location: The first modern Olympic Games were held in Athens, Greece, in 1896. This is true.
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Sponsorship: The first modern Olympics were not sponsored by the YMCA. They were organized by the International Olympic Committee (IOC), which was founded by Pierre de Coubertin.
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Sports: The 1896 Olympics included only men's sports. Women's events were not included until the 1900 Olympics in Paris.
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Industrial Revolution: The Olympics did take place during the time of the Industrial Revolution, which had significant impacts on society, sport, and the organization of events.
In summary, the first modern Olympics were held in Athens in 1896, during the Industrial Revolution, and solely featured men's sports, with no sponsorship from the YMCA.