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International Day for Failure started as an initiative of students at Aalto University in Finland before it became an annually celebrated global holiday.

The students reasoned that Finland needed an increase in small start-up businesses, but the typical Finn abhors failure and would be averse to start-ups. The fear of failing and the stigma that may follow discouraged many potential Finnish entrepreneurs from venturing, hence the idea of creating a day to celebrate failure which, they believed, would, in turn, remove the phobia for taking risks and invariably increase the number of startups. Did it work? Well, it’s International Day of Failure today. So we’d like to think it did.

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