Developing work-related competencies suitable to the ongoing changes in surrounding society could be discussed in terms of lifelong learning. In such a context, the role of higher education has been identified as a key to develop advanced competencies applicable in a networked society. The current project includes scholars from three Swedish universities, representatives and employees from six Swedish bank and insurance companies, and a related governmental agency, all belonging to an established network. The project focuses on highly specialized professionals and their organisations, and the paper aims to answer the following research question: How can a hybrid and networked educational approach to lifelong learning for organisations and employees at the advanced level of higher education be designed? The investigation applies design-based research, and preliminary findings indicate that a hybrid and networked educational approach for lifelong learning for organisations and employees could be viewed from various perspectives. However, an overall observation is that several boundaries dissolve – for example, the ones between universities and participating and collaborative organisations – when a hybrid and networked educational approach for lifelong learning is designed. For one thing, universities should not be reduced to suppliers of education, and organisations should not be reduced to receivers of knowledge. Of particular interest is that participants working with data from their organisations can devote time to organisational challenges and/or utilize a deeper understanding of such challenges in a university course module approach. While the project still is in progress (the implementation phase is ongoing, and the phase intended to evaluate completed course modules has not started yet), the preliminary hybrid and networked approach for lifelong learning needs further development before it can be established. Nevertheless, early trials highlighting the idea of flexible courses that consist of various short modules developed in collaboration between universities and participating organisations indicate a promising venue for creating long-term relationships that could include deeper university-organisation and/or university-industry collaborations. Dialogues with course module participants and representatives of the collaborative organisation reinforced this preliminary conclusion.