Grand challenges call for innovation and collaboration across sectors. Yet, many cross-sector and multi-stakeholder initiatives often fall short of achieving their intended goals, and creating the expected value. Addressing this issue requires a better understanding of how to develop and design emergent multi-stakeholder programs with actual societal value. This article leverages an in-depth case study of Sweden's High-Capacity Transport program to develop a process model that demonstrates how three interconnected value pathways-goal gearing, participatory engagement, and program leveraging-ensured the gradual expansion of program goals and of interest among diverse participants who enhanced collective value creation and contributed to the success of this multi-stakeholder collaboration.