The time of open innovation has shifted towards more selective partnerships shaped by regulatory pressures. Between compliance, data access and internal risk management, large companies are redefining how and when they engage with early-stage assets. At the same time, start-ups face their own timelines and capital needs, often creating misaligned expectations. What collaboration models can truly work in this context and what can go wrong in partnerships? When does collaboration accelerate innovation and when is it not the right move for an early-stage company? Experts will lead an honest discussion on value creation, timing and the realities of big companies collaborating with start-ups today.