The purpose of this paper is to deeply explore partnerships between large companies and social
entrepreneurs. The objectives are as follows: to identify different types of partnerships between
social entrepreneurs and large companies, determine mutual benefits of partnership, explore the
challenges which large companies and social entrepreneurs face in the partnership. Important results of the paper shed light on this under-investigated relationship between social entrepreneurs
and large companies. First, the study offers a new categorization of partnerships between social
entrepreneurs and large companies. A new model — the Partnership Matrix accordingly was developed. This model is based on mutual benefits for both parties: Business, Innovation, Reputation — Impact, Survival, Scale. Second, benefits and obstacles to the development of collaboration
between social entrepreneurs and large companies were identified. An extensive set of semi-structured interviews allowed to hold in-depth analysis of qualitative data. The research contributes
to the literature on social entrepreneurship, business and society. The results of the research have
practical implications; they can help social entrepreneurs and large companies to develop partnerships using more conscious, thoughtful and suitable approaches to mutual value creation.
Keywords: cross-sector partnership, social entrepreneurship, corporate social responsibility, social partnership, hybrid organization.