Maybe (eventually) crowdfunding, assuming it ever gets through the rulemaking process of the SEC. And it's not just the $1M from unaccredited investors, you can raise unlimited amounts of money from accredited investors, so the amount of capital you need wouldn't be a limiting factor. Given the numbers of investors who are looking for large returns, plus those that have an affinity for a particular technology, idea, or solution to a social problem, this could be big competition for VC's and maybe the only route to funding for some ideas/industries/technologies.