We didn't get funding for Scholar360, but we had a pretty standard business model that allowed for incoming revenue to offset further development costs, legal f

We didn't get funding for Scholar360, but we had a pretty standard business model that allowed for incoming revenue to offset further development costs, legal fees etc. Another route is to keep your day job and just work at night or on the evenings. That worked for us too. We are starting a new company, www.nixty.com, that is more Web 2.0 and less of a tried and true business model. We can do it because we have revenue from our first company. I probably would have sought Angel funding if we didn't have some extra money to invest.