It's a MAJOR difference to present a prototype of something like an iPod Nano watch-holder and say "well, we just need 50K to get tooled up and start stamping these out", as opposed to saying "well, we need 50K to get our ideas together and hammer out something that hopefully will be fun, on-time, and cheap".
Remember that old engineering joke about good/cheap/on-time, you can pick only two? That's gonna hit every single one of these game projects. It's hard enough making a game fun, but now you have to do it while making your budget and making your schedule? That's a recipe for disaster.
That's not a joke. That's the capsule summary of every programming project I've ever been involved with, and where they went wrong (if they did).
Hell, sometimes you don't even get two out of three.
If you do not have an excellent track record and/or functional prototype, don't ask for my money!