The main objective of this research work is to question the relationship between the techno- logical intensity of SMEs (defined by the share of R&D expenditure in turnover, according to the OECD) and their growth potential (defined by their innovation and export capabilities). Through a multiple case study conducted with a panel of nine French SMEs, and through an analysis combining a qualitative approach (illustrative cases study) and a quantitative one (multidimensional statistical methods), several hypotheses were tested. Finally, this study points out that technological intensity, as defined by the OECD, is not directly correl- ated with the growth potential of SMEs. On the other hand, a company’s technological in- tensity would have an impact on the way it manages its innovation and internationalization process, and thus the way it manages its internal practices.