Musashino University and freee Co., Ltd. Joint Research Reveals: Entrepreneurship Education May Improve Student Well-being

Miki Isogai, a researcher at the Musashino University Entrepreneurship Research Institute (Director: Yoichi Ito) and Editor-in-Chief of freee Co., Ltd.'s "Kigyo Jidai" (Entrepreneurship Era) media, in collaboration with Associate Professor Yuki Uratani of the university's Faculty of Well-being, Hayato Fujita, a researcher at the Entrepreneurship Research Institute, and Associate Professor Hiroshi Matsui, a visiting researcher at the Happiness Research Institute, has published research findings indicating that entrepreneurship education may contribute to students' psychological growth and improved well-being.

This study surveyed a total of 220 current students and graduates of the Musashino University Faculty of Entrepreneurship using three indicators: "Subjective Well-being (SWLS)," "Four Factors of Happiness," and "Interdependent Happiness (IHS)." The results confirmed a trend of scores increasing with each academic year across all indicators. An interim report was presented at the "4th Well-being Society Academic Conference" held on March 21, and the full findings, including additional information and comments from Entrepreneurship Research Institute Director Yoichi Ito, were published on May 25. The second phase of the study is currently underway in the current academic year.

[Research Background]

Amid the growing importance of well-being in both corporate and educational fields, this research focuses on the psychological characteristics common to entrepreneurs.

As Editor-in-Chief of freee Co., Ltd.'s entrepreneur-oriented media "Kigyo Jidai," Researcher Isogai has conducted interviews with over 130 entrepreneurs. This work has revealed common psychological traits among entrepreneurs:

● A proactive "let's give it a try" attitude
● An optimistic "things will work out" perspective
● Increased gratitude towards others
● Improved self-acceptance, embracing oneself as they are

These traits align with the "Four Factors of Happiness" (1. "Let's Try" factor, 2. "It'll Work Out" factor, 3. "Thank You" factor, 4. "Be Yourself" factor) proposed by Professor Takashi Maeno, Dean of the university's Faculty of Well-being. Based on these insights, the study hypothesized that entrepreneurship education enhances these factors, thereby contributing to improved student well-being.

Starting in May 2025, a joint research project involving the Faculty of Entrepreneurship, the Faculty of Well-being, the Kigyo Jidai editorial department of freee Co., Ltd., and the Graduate School of Economics at Osaka University was initiated. An online survey was conducted targeting 220 students and graduates of the Faculty of Entrepreneurship.

[Research Methods]

This study conducted a questionnaire survey targeting a total of 220 current students (1st to 4th year) and graduates of the Musashino University Faculty of Entrepreneurship. The survey used questions based on the following three indicators to analyze trends by academic year.

1. "Subjective Well-being (SWLS)"

This is a life satisfaction measurement scale developed by Dr. Ed Diener and colleagues in 1985. It evaluates five items on a 7-point scale (maximum 35 points), with higher scores indicating greater satisfaction.

[Question Items]

・In most ways, my life is close to my ideal.
・The conditions of my life are excellent.
・I am satisfied with my life.
・So far, I have gotten the important things I want in life.
・If I could live my life over, I would change almost nothing.

2. "Four Factors of Happiness"

These are four psychological factors that bring about sustainable well-being, proposed by Professor Takashi Maeno of the university's Faculty of Well-being based on positive psychology. This study set 16 questions covering the four factors ("Let's Try" factor, "It'll Work Out" factor, "Thank You" factor, "Be Yourself" factor), with self-evaluation on a 7-point scale.

Sample Question Items (Total 16 items)

・I like to try new things.
・I have a positive outlook for the future.
・I often feel grateful to the people around me.
・I feel I am living true to myself.

3. Interdependent Happiness Scale (IHS)

This indicator is based on the "Interdependent Happiness Scale (IHS)" developed by Yukiko Uchida and Hidefumi Hitokoto of Kyoto University in 2014. It focuses on happiness felt through relationships and harmony with others, not just personal achievement or success, reflecting a Japanese perspective on happiness. This study evaluated interdependent happiness based on the total score from 9 questions.

Sample Question Items (Total 9 items)

・I believe that not only I, but also the people close to me, are feeling happy.
・I feel recognized by the people around me.
・I feel I am making the important people in my life happy.

[Research Results]

1. Subjective Well-being (SWLS)

Analysis confirmed that subjective well-being (SWLS) significantly increases with academic year. Specifically, an average increase of 1.35 points was observed for each year of advancement. This suggests that students' life satisfaction may gradually increase throughout the entrepreneurship education process.

2. Four Factors of Happiness

Analysis confirmed a trend of increasing scores for all four factors ("Let's Try," "It'll Work Out," "Thank You," "Be Yourself") with each academic year.

Notably, significant growth was observed in the "Let's Try" factor (challenge orientation) and the "It'll Work Out" factor (optimism), indicating that the entrepreneurship education process may enhance students' willingness to take on challenges and their positive outlook. Increases were also confirmed for the "Thank You" factor and the "Be Yourself" factor, suggesting positive changes in gratitude towards others and self-acceptance.

3. Interdependent Happiness (IHS)

A trend of gradually increasing scores for Interdependent Happiness (IHS) was also confirmed with each academic year. This suggests that entrepreneurship education may enhance not only personal achievement but also the happiness felt through relationships and harmony with others.

This study indicates that the challenging environment fostered by entrepreneurship education can enhance students' autonomy and promote psychological growth accompanied by improved subjective well-being. No significant gender differences were found in any of the indicators, confirming that well-being improves similarly regardless of gender.

[Significance of the Research]

This study is significant for empirically demonstrating the potential of entrepreneurship education to foster human growth through improved well-being, connecting insights from the field of entrepreneurship support with university education. These results suggest the importance of introducing entrepreneurship education not only at the university level but also in high schools and other educational settings.

[Future Outlook and Research Development]

As this survey was a single cross-sectional study across different academic years, longitudinal tracking of the same cohort over multiple years is considered necessary for robust validation. The research team also plans to investigate whether similar trends and effects are observed in entrepreneurship education programs targeting working professionals and high school students.

Key areas for future research deepening:

・Precise verification of causal relationships through longitudinal surveys
・Expansion of analysis to include working professionals
・Analysis of the impact of prior entrepreneurial experience