University–Business partnership for collaborative curriculum design, development, and delivery is an important dimension of University–Business Collaboration (UBC), but scarce information exists on how to enhance partnership for the design, development, and implementation of new curricula. With these questions in focus, this article intends to present and discuss the perceived experience during a three-year European funded project, namely, Think4Jobs. This project exemplifies the significance and benefits of UBC in the design, development, and delivery of curricula that meet the evolving demands of the labour market while promoting Critical Thinking (CT) as a foundational 21st century skill to contribute to graduates’ employability. Think4Jobs project brought together a multidisciplinary team of researchers and business organisations from five European countries (Germany, Greece, Lithuania, Portugal, and Romania) with interests in promoting and developing CT and mitigating eventual competence gaps. The project’s success was attributed to key practices, including defining a common conceptualization of CT, employing Participatory Co-Design, and providing common training for university and business partners. Clear objectives, explicit roles, effective communication, and ongoing evaluation further enhanced the collaboration. Experiential learning, real-work problems, and case studies reinforced the curricula, bridging the gap between academia and the labour market. By embracing these insights, future UBC initiatives can empower graduates with the necessary skills to stand out in an ever-changing labour market, contributing to enhanced education and successful careers.