Enhancing competitive advantage is important for the business of a high-tech SME in a challenging business environment, which is why this study explores this in one company through the question of: “How can innovation, proactiveness, and risk-taking drive competitive advantage in a high-tech SME?”. The dimensions of innovation, proactiveness, and risk-taking, originate in an entrepreneurial orientation (EO) (Miller, 1983). The study takes a guided exploratory approach through interviews, on-site observations, and textual data. The findings showed six drivers of competitive advantage of the examined company - an encouraging environment, being innovative, identifying industry gaps, planning, calculated risks, and strategic investments. Two additional drivers were further revealed - end-user focus and quickness, interpreted as a new aggregate dimension of adaptability. Additionally, the results add to the gap in existing research by bringing deeper insights into the drivers of competitive advantage that an EO can provide for a high-tech SME in a challenging environment.