For the benefit of both the parties/universities/researchers etc, first identify the areas and work on together, and publish. Later concentrate on joint projects.In fact, this model is giving us a lot more than expected and working very well. We are planning to have one with Krakow as well. I myself have 16 such tie-ups with which
we are working in several areas and publishing more. Few in Europe, USA, More in Asia-Australia region, past 3 years gave us a wealth of knowledge as well.