This paper highlights the collaboration between industry and academia in research. It describes more than two decades of intensive development and research of new hardware and software platforms to support innovative, high-performance sensor systems with extremely high demands on embedded signal processing capability. The joint research can be seen as the run before a necessary jump to a new kind of computational platform based on parallelism. The collaboration has had several phases, starting with a focus on hardware, then on efficiency, later on software development, and finally on taking the jump and understanding the expected future. In the first part of the paper, these phases and their respective challenges and results are described. Then, in the second part, we reflect upon the motivation for collaboration between company and university, the roles of the partners, the experiences gained and the long-term effects on both sides.