UPDATE: Congressman and gubernatorial candidate Dusty Johnson just announced a bold initiative to support South Dakota entrepreneurs during a roundtable discussion held in Sioux Falls on March 13, 2026. Johnson’s plan involves allocating $2 million from the Future Fund to launch “Launch South Dakota,” aimed at transforming the state’s economic landscape to favor startups.
With a room full of business leaders, excitement surged as Johnson detailed his vision to increase investment in proof-of-concept awards and encourage the growth of homegrown businesses. “I want to see South Dakota’s success by South Dakotans,” Johnson emphasized, challenging the traditional focus on attracting large corporations at the expense of local innovation.
The roundtable featured influential panelists, including Matt Paulson, founder and CEO of MarketBeat, and Lynne Keller Forbes, President & CEO of the South Eastern Development Foundation. Sioux Falls Mayor Paul TenHaken praised Johnson’s proactive approach, stating, “A goal without a plan is just a wish,” and urged a shift in narrative toward supporting entrepreneurship rather than resisting change.
Johnson’s comprehensive plan includes four key policies: expanding proof-of-concept awards, enhancing coaching and mentorship for young entrepreneurs, nurturing the state’s “Giant Visions” competition, and utilizing federal funds for venture activities, taking inspiration from Wyoming‘s success. He stressed that this initiative does not come at the expense of supporting larger businesses but rather aims to diversify South Dakota’s economic portfolio.
“This is the biggest-ever plan for investing in South Dakota startups and entrepreneurs,” Johnson declared, inviting dialogue to refine his approach and enhance resource accessibility for startups. “Real success and leadership are collaborative,” he added, signaling a commitment to working together for the state’s future.
In response to Johnson’s announcement, Governor Larry Rhoden‘s campaign highlighted his administration’s economic achievements, citing South Dakota’s status as having the lowest unemployment rate in the U.S. and the second-fastest-growing economy. Rhoden’s team emphasized a government role focused on empowerment, stating, “Governor Rhoden believes his job is to get government out of their way.”
As technology evolves and the role of AI expands, Johnson believes that nurturing entrepreneurship is vital for sustaining economic strength. He views this initial investment as just the beginning, stating, “These are the first four big steps I’m taking toward entrepreneurship. They will not be the last.”
The Future Fund allocation was strategically chosen, as Johnson noted it is the only area under his control with legislative oversight. He expressed optimism that overwhelming interest in the initiative could lead to a need for further funding, saying, “We could only be so lucky as to have the entirety of the Future Fund be gobbled up because smart people are investing in South Dakota.”
Discussion at the roundtable also touched on reviving the Dakota Seeds Program, a grant initiative aimed at subsidizing internship wages, signaling a desire to foster long-term growth in the state’s workforce. Johnson and attendees expressed hope that reinstating such programs could help local businesses attract and retain talent.
This developing story will continue to unfold as more gubernatorial candidates weigh in on their plans for supporting South Dakota entrepreneurs. Stay tuned for updates on this critical election coverage from Dakota News Now.
