It was not a term I was familiar with, though having Googled it, it turns out that I am much more familiar with the idea behind it. This is the definition I like the most.
At its core, co-creation is about involving a community outside your company in the ideation phase of the new product or service development.
With co-creation, the participants -- which may include customers, suppliers or the general population -- are made aware that they are contributing towards the development of ideas and concepts.
Through a series of steps, people are invited to contribute, evaluate, and refine ideas and concepts.
And elsewhere "Co-creation works best when you build a strong community. People share ideas, build on each others' work, critique, praise, and compete. It takes more than financial rewards to keep smart, creative people engaged."
A small group of us convened by Vadim talked a lot about what the principles might lie behind a co-creation methodology and a key insight for me is that I have the core of such a methodology in an emerging, expanded vision of my Knowledge Cafe.
"The Knowledge Cafe is a highly adaptable conversational methodology for bringing people together to have conversations to achieve a common purpose."
More on this as my ideas develop :-)