Approaches for preparing simulation models of an electronic circuit are disclosed. The design is partitioned into first and second clusters. The design includes a source module in the first cluster connected to a destination module in the second cluster. The first cluster is compiled into a first model for a software-based co-simulation platform for simulating behavior of the source module using the first model. The first cluster and the second cluster of the design are compiled into a second model for a hardware-based co-simulation platform that includes a programmable logic circuit configurable for emulating behavior of the design using the second model. An interconnection block is generated and stored in the second model. The interconnection block is switchable between coupling of the destination module in the second model to the source module of the first model or to a source module of the second model.
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