Startups and corporates can benefit from collaboration: startups gain resources and customers, while corporates get fresh ideas and expertise. However, navigating such collaborations can be challenging, time-consuming, and prone to uncertainty, frequently necessitating the involvement of external intermediaries. This article draws on an in-depth study of a unique matchmaking initiative in Sweden to explore the role intermediaries play in orchestrating corporate–startup collaborations. We present a framework explaining how these collaborations are initiated and offer practical guidance for intermediaries in facilitating this process.