[nurik]

Take the money and run....no just kidding of course. Is it possible to pivot your idea? You must have thought about this I am sure...Your team must be pretty good, otherwise you would n't have an outstanding angel board and I assume you wouldnt be able to keep the money. I agree with the approach of "lifeisstillgood". Can you tell us a bit about your "failed" idea? It might seem strange at this point but have you considered to apply here?: http://ycombinator.com/noidea.html

[danielfrese]

Yeah, maybe we'll apply for the next YC class.

I wrote about our failed idea in another comment