The relationship between fear of failure and entrepreneurs’ well-being examined through procrastination in Master’s thesis by Kasper Suomalainen

Master’s thesis, Kasper Suomalainen, Aalto University School of Business, Entrepreneurship and Innovation Management, Fall 2017

ABSTRACT: The purpose of this thesis is to examine fear of failure, procrastination and wellbeing in entrepreneurs by studying the relationship between the variables through quantitative research methods. This paper focuses on (1) defining and scoping procrastination and fear of failure and how these relate to well-being, (2) forming 3 hypotheses based on existing literature, and (3) finding out how fear of failure, procrastination and well-being interact with one another. This was done through surveying 71 entrepreneurs through a questionnaire.

Kasper Suomalainen acted as the Director of Community at Startup Sauna 2016-2018. /in/kaspersuomalainen/

The study found out that (1) fear of failure is negatively related to subjective wellbeing, (2) fear of failure is positively related to procrastination, and (3) procrastination does not moderate the relationship between fear of failure and subjective well-being in a statistically significant way.

The biggest limitation in this domain is that existing literature involves multiple perspectives, definitions and measures of the construct of fear of failure, and the fact that procrastination is only measured on a general level with no real categorization.



TIIVISTELMÄ: Tämän gradutyön tarkoitus on tutkia epäonnistumisen pelkoa, viivyttelyä (procrastination) sekä hyvinvointia yrittäjissä analysoimalla näiden muuttujien keskenäisiä suhteita kvantitatiivisesti. Työ keskittyy (1) määrittelemällä epäonnistumisen pelon ja viivyttelyn liittämällä nämä hyvinvointiin, (2) kolmen hypoteesin muodostaminen olemmassaolevan kirjallisuuden pohjalta ja (3) tutkimalla miten epäonnistumisen pelko, viivyttely sekä hyvinvointi vaikuttavat toisiinsa. Tämä tehtiin kvantitatiivisen tutkimuksen kautta johon osallistui 71 suomalaista yrittäjää.

Tutkimuksen aikana selvisi, että (1) epäonnistumisen pelolla on negatiivinen vaikutus hyvinvointiin, (2) epäonnistumisen pelolla on positiivinen korrelaatio viivyttelyn kanssa ja (3) viivyttely ei moderoi epäonnistumisen pelon ja subjektiivisen hyvinvoinnin suhdetta tilastollisesti merkitsevästi.

Suurin haaste tutkimuksen saralla on se, että epäonnistumisen pelkoa tutkitaan monesta eri perspektiivistä eri määritelmillä ja mittareilla, ja viivyttelyä tutkitaan yleisellä tasolla ilman kategorisointia.


Spanish Students from Mondragon Team Academy @ Urban Mill: WE WANT YOU TO MEET US!

This previous week just two young startups came to our Hub: Neemboo and 840 projects.

35 Spanish students from Mondragon Team Academy (MTA) are forming on the degree of Leadership, Entrepreneurship and Innovation (LEINN). The students have their home base in Urban Mill in Espoo Innovation Garden during the weeks in Finland.

As part of their degree, they will be spending a month and a half in Finland, learning about the Finnish market and economy in order to create a bridge between both countries and have a social impact. As well as, in order to learn more about its educational methodology, innovation processes and entrepreneurship.

For them to join our lovely community with a good step, they have decided to prepare an event for them to present us their learnings, by doing different projects they have and are working on since September. This Event will be taking place on Friday 23rd February at Urban Mill from 13:00 to 15:00 that will include a Spanish Food tasting for all the people that attend it. To be sure you get your place on this great event, you can confirm the attendance in here:

840 Projects

840 Projects mainly focus in the development of sustainable products that tries to fix the damage of one of the problems that has a big impact in the world right now, Over Consumption. For this, they have been working in projects like:

AATMA that means soul in Hindi, is a project that creates unique handbags that are made of recycled clothes that have a personal story that comes from the users of those cloths.

SadBoysClub have high quality hoodies with a exclusive and unique drops of limited new designs. This focuses more into everyone having their own unique style and at the same time feel that they are part of a community.


Neemboo is basically a close entrepreneurial enterprise of project management willing to learn more things everyday. They believe in innovative ways of helping people to change what they are used to, to motivate them to leave their comfort zone.

Closer and Hoop, with a sustainable style, are representing the authentic and simple design of comfortable accessories. They make sure that women’s empower is taken into account as well as equality and justice between all of us.

EXEX, with a brand new concept of exclusive experiences and products. It is platform that gives light to rural entrepreneurs that hold up great stories within them. It makes the customer feel this experience and focus on why they buy, making the world a more human place.

We encourage you to come and visit them! Do not hesitate to contact them:

840 Projects
+358 414722020

+358 46 5506376

Invitation to Spanish Entrepreneur Students Project Exhibition @ Urban Mill on Friday 23rd February 13-15

Spanish students from Mondragon Team Academy (MTA) are working in Urban Mill for several weeks on the degree of Leadership, Entrepreneurship and Innovation (LEINN).

The students teams 840Projects and Neemboo have prepared and event for us to know more about their projects and their teams.

This Friday, 23 of February 13:00 to 15:00 Urban Mill will become a project hub where you are invited to learn more about these young entrepreneurs and you will be able to ask any questions in the development of their ideas and the Spanish culture and market for their projects.

This event will include a Spanish tasting of tapas for everyone that Signs Up for the event.

Time:  Fri 23.2.2018 at 13.00 – 15.00.
Place: Urban Mill, Betonimiehenkuja 3E, Espoo, Suomi
Price:  Free.
Sign up here:

Organizers: Association Junior Empresa 840Projects (Spanish Students from Mondragon Team Academy)

Kick scooter sharing pilot concludes on a high note in Otaniemi by Samocat Sharing

Samocat Sharing Oy, with the introduction of Kick-scooter sharing system, the ”most compact public transport” want to add another option for users in their transportation choices by solving the last mile problem. The research focused on understanding stakeholders’ collaboration, required business model and user behavior & experience over a three-month pilot in Otaniemi, Espoo Innovation Garden in Finland.

The Pilot kicked off in the beginning of September 2017 and ended in November 2017. The results of the pilot are now published in a report found here:

Samocat sharing Oy, an international start-up with Russian roots are developing the kick-scooter sharing system as an ideal last mile public transport for urban areas. Samocat sharing consists of a dynamic team of individuals experts in varied fields operating from Moscow, Russia and Espoo, Finland.

City of Espoo, ACRE (Aalto University Campus and Real Estate, TEKES (Tekes, 2017) and Aalto University student union (AYY) are partners with Samocat. Urban mill is the workspace provider with logistics and networking support. Helsinki business hub (HBH) is the consultants who worked from the beginning throughout the pilot.

Focus group for the pilot have been Aalto University students, staff and Corporate employees around Otaniemi area. Six locations around Aalto University campus was set up for the pilot.

Read more about the team’s conclusions:

Lue loppuun

Bisnestreffit 23.2.: Kestävä liiketoiminta – BisnesDates on 23 February: Sustainable Business

Espoon kaupunki tiedottaa:
Tervetuloa Bisnestreffeille keskustelemaan liiketoiminnan kestävyydestä ja
verkostoitumaan samanhenkisten kanssa.
  • Kuinka asiakkaita voi auttaa pienentämään ekologista jalanjälkeään?
  • Kuinka Espoosta voisi tulla kestävyyden kansainvälinen edelläkävijä?
  • Mitä minun yrittäjänä pitäisi tehdä – ja kenen kanssa?

Tilaisuudessa puhujina:
Ilkka Kojo, Johtaja, Ympäristö ja kestävä kehitys, Outotec
Harri Paananen, Elinkeinopäällikkö, Espoon kaupunki

Puheenjohtajana toimii Kari Mikkelä, Urban Mill

Ideointiin ja verkostoitumiseen on varattu aikaa 30 min. Paikkoja on rajallinen määrä, joten mikäli estyt saapumasta paikalle, varmistathan, että kollegasi osallistuu puolestasi. Tilaisuuden kieli on englanti.

Aika: pe 23.2.2018 klo 8.00 – 9.00.  Paikka: Espoon kulttuurikeskus Kulttuuriaukio 2 .  Hinta: Maksuton. Ilmoittaudu tästä:

Järjestäjät: Espoon kaupunki ja Kurt Linderoos (Oy Personal EU United Brains Ltd).

Network in Social Media
Interactive Twitter wall


Lue loppuun

Urban Mill mukana Hong Kongin StartMeUp viikolla – Connected Cities Key Note paneelissa

Urban Mill ja Espoo Innovation Garden olivat mukana Hong Kongissa 30.1. järjestetyssä Connected City konferenssissa, jossa yhtenä puhujana esiintyi Resolute HQ:n Jukka Viitanen Urban Mill yhteisöstä. Viestimme aktiivisen osallistamisen ja kuratoidun ekosysteemiyhteistyön merkityksestä saivat innostuneen vastaanoton ja herättivät vilkkaan keskustelun innovaatioyhteistyön merkityksestä kaupunkikehityksen keskiössä.

Monet tilaisuudessa mukana olleet asiantuntijat korostivat älykkäiden, ekologisten kaupunkien tarvitsevan ytimiinsä ohjattuja prosesseja kaupunkien toiminnallisuuksien vahvistamiseksi. Kaupunkilaisten, virkamiesten, yritysten ja tutkijoiden välisen yhteistyön kehittämisen uskottiin luovan positiivisen kehitysilmapiirin ja uusia tuloksellisia malleja kaupunkiympäristöjen mielekkäälle kehittämiselle.

Hong Kong Smart City konsortion, KPMG:n ja Invest in Hong Kongin yhteistyössä järjestämä tilaisuus toi paikalle yli 50 asiantuntijaa, yli 600 kuulijaa ja lähes 40 yritystä vaihtamaan näkemyksiään ja esittelemään ratkaisujaan Smart City:en kehittämiseksi. Konferenssin pääviestit kiteytyvät hyvin KPMG:n viestissä:

”Speakers and delegates presented their views on the future of Smart Cities as follows: for a city to be smart, it needs to be conscious of the needs and wishes of its population, the economic interconnectedness of its businesses with surrounding regions, and the potential impact of technological developments. Above all, smart cities are about people. By placing its citizens at the core of decision-making, focusing on education and harnessing the city’s talent, we are positive Hong Kong can enable its population to innovate, drive growth and improve their quality of life.”

Tämän Urban Millin toiminta-ajatuksen kanssa hyvin linjassa olevan viestin rohkaisemina avasimme keskusteluja yhteistyöstä potentiaalisten kumppaneiden kanssa. Mahdollisina teemoina Living Lab toiminta, ACSI-leirit ja Urban Mill alustojen kehittäminen Aasiassa. Näin siis olympialaisten hengessä: ’Latu on nyt auki, ei kun hiihtämään’.

Teksti: Jukka Viitanen, Resolute HQ Oy

Creative Commons -lisenssi
Tämä teos on lisensoitu Creative Commons Nimeä-EiKaupallinen-EiMuutoksia 4.0 Kansainvälinen -lisenssillä.

Brand new Aalto Artificial Intelligence Society (AAIS) calls for members, partners and sponsors

A number of students interested in artificial intelligence (AI) gathered to Urban Mill last week to discuss how to promote and develop the know-how of AI within Aalto University. The students found it important to set up an association to support the aims.

The founding meeting of Aalto Artificial Intelligence Society, in Finnish Aallon Tekoälyseura, was held in Urban Mill on Feb 6th.

The purpose of the association is to unite Aalto University students and other people interested in artificial intelligence and to promote artificial intelligence especially within the student communities. In addition, the association supports its members’ interest in artificial intelligence and the development of it.

The society plans to organise excursions, study circles, courses, hackathons and competitions, collect and transmit information on artificial intelligence, and collaborate with other associations and implement various projects related to the subject area.

AAIS now calls for more members as well as partners and industrial sponsors who would like to get in contact with AI students and collaborate and support the development of AI in the Aalto ecosystem.

For more information, contact: Perttu Yli-Opas,, +358 44 9765 669,

The new society is registered as a local association member of Urban Mill Innovation Platform.