Enterprise challenges are teaching activities that allow students to develop and pitch a creative idea in response to a real-life challenge, usually posed by a charitable organisation. Students work in teams to develop their ideas and draw on their subject knowledge, as well as entrepreneurial processes, to articulate their product or service that addresses the challenge. These activities have the potential to enhance psychological literacy as they provide an opportunity to utilise psychological knowledge and skills in novel and unfamiliar ways and urges students to find creative solutions to societal problems. This article presents the rationale and structure to design an enterprise challenge in psychology teaching and uses two case studies to show diverse ways of delivering these teaching events. Evaluation data from six previous challenges show that students self-rate their perceived psychological literacy and entrepreneurial orientation higher after having participated in an enterprise challenge. These teaching activities present a propitious way of enhancing psychological literacy in the curriculum and supporting students on their journey to develop as global citizens.