Software engineering research can be done in many ways, in particular it can be done in different ways when it comes to working with industry. This paper presents a list of top 10 challenges to work with industry based on our experience from working with industry in a very close collaboration with continuous exchange of knowledge and information. The top 10 list is based on a large number of research projects and empirical studies conducted with industrial research partners since 1983. It is concluded that close collaboration is a long-term undertaking and a large investment. The importance of addressing the top 10 challenges is stressed, since they form the basis for a long-term sustainable and successful collaboration between industry and academia.