Globalization has put engineering education and the profession at a challenging crossroad. The impact of rapid technological innovations on modern societies has been amplified by the globalization of the economy. The competitiveness of the U.S., which is linked to our standard of living, is dependent on our ability to produce a large number of sufficiently innovative engineers prepared to address issues related to complex systems. Hence, our focus is on the research and development of instructional activities that address the engineering competencies related to innovation. Engineering educators and practitioners have suggested that collaborative-competitive team design events promote innovation. These competitions are popular, and they attract sponsors and participants. Beyond being popular, they are believed to provide rich learning opportunities for students. The University of Oklahoma’s Formula SAE (Society of Automotive Engineers) Racing team is highly ranked in the U.S. and world. We are in the early stages of designing, implementing, and testing a four course curriculum, around the FSAE race car, that fosters meaningful learning, innovation, systems level thinking, and the attainment of career-sustaining skills as a result of authentic experiences. We plan to identify the activity features that match with the theoretical frameworks of innovation, match them to the professional competencies, translate the events from extracurricular to curricular activities, and assess their effects on student learning and development in four technical courses our curriculum. With a view to stimulating discussion, in this paper, we highlight some of the salient features of our plan and some issues that warrant further investigation.