Drawing on two datasets of companies, this paper investigates the underlying dynamics of corporate startup collaboration (CSC) in Brazil as well as the reasons why corporations engage with startup and vice versa. The authors have used several types of collaboration found in the literature and the reasons of collaboration, as the basis to support the research. It suggests that the search for a line of radical innovation and collaboration strategy and also be part of an ecosystem are associated with the significant increase in two years in number of companies, programs, and engagement, resembling international data on the subject. This search for innovation and collaboration strategy and be part of an ecosystem are likely to be driven by three industry sectors that most stand out. Matchmaking, Training & Mentoring and Pilot Project Contracting were the top three types of engagement. They are seen as partnership between corporation and startup, where both sides can learn and grow in this process, rather than an one-off transaction. The results offer insights into the emerging trend of corporate startup collaboration, especially companies and startups, that are not yet engaged with each other, can take results as a basis to start engaging and/or create a line of innovation and engagement strategy by understanding the nature of engagement and its programs. This study also shed lights on Brazilian startups and their collaboration with incumbents (local and international) as well as on industry sectors that most standout.