In this paper, we present an approach that applies concepts from the areas of Social Software and Semantic Web to application development. We start with a short introduction into Semantic Based Requirements Engineering. Then, we present an ontology for capturing requirements and related information. Based on this ontology, we describe how stakeholders are enabled to directly participate in requirements elicitation and to collaboratively create a project ontology. Finally, we report about the application of the presented approach in a use case from the e-government domain.