In this study, we regard co-creation as a collaborative process where students, lecturers and working field professionals from outside the university jointly develop innovative products, processes or knowledge. In co-creation all stakeholders equally contribute to the collaborative process and aim to create beneficial outcomes for each participant. Co-creation can be used as a valuable pedagogical method to support continuous interaction between learning and working in higher education to foster innovation. However, this process is not necessarily mastered by co-creation groups. In order to identify which components of this collaboration process can be further improved, we developed a questionnaire to assess co-creation processes in higher education. Students, lecturers and working field professionals participating in co-creation projects completed the questionnaire. We validated the questionnaire using a principal component analysis. The seven extracted scales proved to be sufficiently reliable. The final questionnaire consists of seven components: positive interdependence, individual accountability, collaboration, shared mental models, safe and supporting conditions, creative community, and group evaluation. We described how the tool can be used in practice.