This paper suggests a blueprint for research initiatives between academia and industry. It is meant to stimulate the discussion of the benefits arising from such collaborative work between researchers in universities and practitioners in the field. We show how both rigour and relevance can be ensured in such a collaborative setting. The paper presents a generic model (the CBR Model), developed over eight years and successfully implemented in an existing longitudinal collaboration. The model consists of four different key areas (funding, topic, cooperation, interpretation) as well as three layers relating to time intervals ((yearly, medium term (3 years), long term). The model is designed to provide researchers with a guideline for setting up similar collaborative arrangements between researchers and industry partners.