How would a startup entrepreneur raise capital with out Proof of concepts? There are some myths that investors don't invest in an Idea. Is it true?
Investors do invest money at the IDEA stage but people often mismatch their Startup with the stage of their business to the stage of the investor they approach.
If you are at an IDEA stage you should approach Seed Funds or Angel Investors. If you have a product out you should look for Series A investors. Once you have a traction you should meet a Series B VC. Once you have a scale you should seek a Series C investors help.
Most of the times what happens is the Startups reach out to the wrong investors and miss out on their chance to get their Ideas funded at an early stage.