Well, the thing is that my friend doesn't pitch ideas to people with money as a job. He's just friends with them and they go out for coffee/ dinner, sometimes they make a deal, etc.. So a "formal approach" for VC funding doesn't apply here.

Truly, a back-of-the-napkin idea won't catch anyone's eyes, that's why I'm searching for someone that can give some feasible milestones/ a timeframe and budgets for them and he will present that.