It's a hardware+software product, a small business with real sales and income, and they're looking for around US$300k in funding to expand and take their R&D to the next level. The problem is it's hard to get friends&family angel investors to invest that much, but for VC firms it's too little to worry about (or they say the market is too small). Suggestions on where to look for funding for this kind of operation?
You could see what this group did / talk to them?