In this paper, we first situate Knowledge Parks within the knowledge economy and identify how the second generation of Knowledge Parks in the global 'south' differ quite substantially from their early precursors. We look at whether the great expectations generated by the establishment of Knowledge Parks were met and the implications for developing countries. This will then lead us to questions of whether the growing phenomenon of the open source movement will shape the Knowledge Park of the future. Finally, we will look at how international organisations such as COL and UNESCO can contribute meaningfully to harnessing technological innovation for the development of all.