In today's rapidly evolving business landscape, the synergy between deep tech startups and large corporations has become a critical driver for disruptive innovation. This thesis investigates the dynamics of these collaborations and seeks to create a comprehensive framework that promotes effective partnerships. Existing frameworks for collaboration and asymmetric collaboration between companies often fall short of providing practical solutions. This study is conducted in a qualitative and abductive manner with a focus on three theoretical perspectives, Open innovation, Asymmetric collaboration, and deep tech. The theory has been used to create a framework with key areas and phases. The framework was then filled with key activities identified through analysis of the empirical data which was collected by interviewing professionals within startup collaboration. Finally, conclusions were drawn based on the analysis of the findings. The conclusions drawn in this study are that the collaboration process can be broken down into 3 distinct phases: Identification & Evaluation, Integration & Internal Matchmaking, and Execution. Further three key areas affecting the collaboration process were identified: Organisation & Culture, Communication & Interaction, and Strategy. Lastly, 26 key activities within different phases and areas were identified.