As others have stated, it's not absolutely mandatory to have a technical co-founder but it will certainly increase your odds of being accepted and successfully executing your project.

It sounds like you're making the assumption that a technical co-founder requires capital. In most cases, founders split equity and money doesn't enter the equation until you're funded. Have you attended local meetups (some communities have "co-founders wanted" gatherings) or gone to networking events to search for a founder?

Also take a look at this similar question that was asked on Quora: http://www.quora.com/How-important-is-it-to-have-a-technical...