[japhyr]

> If you've no chance of getting 10x+ growth (within 3-5 years) then from a portfolio point of view you're a failure before you start, it makes no sense to invest in you.

Who do you go to if your company is not likely to grow 10x, but is very likely to become profitable? For example, your project fills a defined need, you demonstrate the ability to pull it off competently, but you don't anticipate exponential growth.

I am not very familiar with investment models. Is there a non-VC model that is more appropriate for this kind of startup?

[ig1]

You're unlikely to get professional investors interested, so your other options are:

1) Bank loan - unlikely because you're too high risk unless you're willing to personally guarantee it.

2) Strategic investment - get an investment from someone who cares about things other than about the financial return. This could be other complementary industry players or an angel who really cares about your space.

3) Investment from your customers, if your startup solves an important problem for your customers they may well be willing to invest in your startup because they need a solution rather than for direct financial returns.