Present reserch links the practical problems of start-up enterprise and novel theoretical concept of Dynamic Capabilities. The core question for start-up enterprise is how to survive the competition and grow to independent profitable organization. The concept of Dynamic Capabilities is the modern way of explaining the sources of company''s sustainable competitive advantage and it explains how to beat the average results of the branch. Current thesis contains case study of ambitious start-up company DSP Water that is planning a rapid international growth. DSP Water is competing in a conservative branch - production and sales of water and sewage piping components. But the aim of company''s management is gaining success due to making things differently compared to mature competitors companies. The research gives practical model of finding the key dynamic capabilities for start-up companies and real-life case study based on that model.