The rapid technological advances, globalization, proliferation of social networks, etc. are some of the factors which have made a huge impact in recent years on our personal lives as well as the way we do businesses. These influences in our lifestyles and professional careers are also having a substantial influence in our educational systems, even though these under currents had been relatively slow.The current trends also bring forth interesting challenges and opportunities for the educationists. One such challenge is to transcend the education beyond the perceived borders in several dimensions. These dimensions could be geographical/cultural, disciplinary, pedagogic etc. The European Union has made several initiatives, which give the educational institutions ample opportunities to support them in such endeavours. This talk will describe some of our successful efforts undertaken at the Mälardalen University, Sweden towards meeting these challenges. These efforts span a wide spectrum of activities from bi-lateral institutional cooperation on single course level to multiple levels of strategic industry-academic collaborations. We present our reflections based on these experiences and analyze the potential for sustainability of our initiatives.