Venture capitalists looking to do a full first round financing usually expect to see a core management team in addition to a well-researched business plan . The business plan should include a detailed description of the development strategy, market, and product rollout. An idea-stage startup will have difficulty finding this kind of financing. Most VCs don't have the time to help entrepreneurs develop their business plans and build a team. As a result, they are looking for companies that are further along in their development process.
Sources can be angel investors, accountants, or friends and family. .
Find out which firms cater to the startup industry and are tied into professional investors. This is a relationship sell. You are better off working with one of the reputed financial intermediaries. A big firm with an established network can provide introductions that will prove to be invaluable for your startup. You can assume that it will require pitching at least a half a dozen VCs and probably more.