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The Renaissance contributed to the European Age of Exploration because it helped bring to the front stage the newer "technology" that was needed to adequately explore the world. The creation of the compass, the creation of better maps as they sailed, better ships were all major influences of the Age of Exploration.
The Renaissance was embodied with ideas of greatness, individual achievement, and the desire to seek understanding and knowledge for the sake of knowledge. The Rennaissance was also possible by well funded patrons that could afford to make their artistic and intellectual "renaissance" ideas come to fruition.

The Age of Exploration was a desire for several things: 1. A desire for wealth. This is a continuation of a concept that was flourishing during the renaissance. 2. A desire for understanding. People sought out exploration for glory, the simple joy of being able to say I was the first one to discover something! This strive for knowledge and understanding is directly aligned to what was considered important during the Renaissance.
3. Spreading Religion. Although not directly related to the ideologies surrounding the Renaissance, it would have been made possible through Renaissance technology, the Printing Press. 
And 4. Technology that aspired creating during the Renaissance is what made these trans-atlantic journeys possible.
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