It looks like its going to be a tough 2009 for start-ups looking for an A or B round. Only 55 funds have raised capital, compared to 78 funds from a year ago. This will trickle down and offer less availability for younger companies looking to get their ideas of the ground.
See post from yesterday. Seek to prove your model on your own dime and with sweat equity. Then, seek expansion capital rather than proof-of-concept capital. Also, look to friends and family (maybe a rich uncle) that believes in you. Remember, at a start-up stage, most people are betting on the jockey, not the horse.