This paper focuses on the mechanisms for knowledge generation and sharing in the co-creation process. Using a case study of an innovation intermediary we describe in detail the technical and non-technical mechanisms employed in the co-creation process. From this, the study suggests that co-creation is a pragmatic and iterative process for knowledge management to occur. Next, it highlights how the adoption of open standards and a mind shift in sharing ideas provides a new way in creating value and circumvents the traditional models of intellectual property.