This idea will be the first wearable device that reads gestures.
The best avenue for funding would likely be Kickstarter, but that presumes that the idea of a gesture-reading device is likely to have broad-enough appeal, which I'm not sure of based on the one line description.
When I think about reading gestures, I think about a market primarily aimed at people with vision impairments. If that's the case, you might even want to look at foundations or organizations who might fund some of the research, but that will almost inevitably slow your pace of innovation.
You might want to setup a call with Clay Hebert if you decide to go the Kickstarter route. https://clarity.fm/clayhebert
Best of luck. Curious to hear more.
My name is Simon Anquetil and I am a mobile startup consultant with experience across a range of industries.
Sounds like you're on to something there. The wearable device market is growing rapidly.
The first step is to get your idea to a level where you can convince someone to fund your prototype. There are many ways for this to happen. You may have heard of Pebble watches? This was totally funded by Kickstarter. True - they had a great team around them to start with - but if you can start with the idea and build an appealing enough case, Kickstarter might still be an option for you. (refer to www.kickstarter.com if you aren't sure what I'm talking about)
The team can be put together at a reasonable cost using tools like AppHappening.com, depending on what you need.
The key is to get your prototype happening so that you can then attract people who will fund the whole development cycle. There are so many ways to find the right partners, but first you need to give your idea some credibility. Make it tangible.
Please feel free to schedule a call if you'd like more advice on this.
Team: Clarify, oDesk, Elance, or your connections.
Funding: Kickstarter or Indiegogo.
I mentor startups in applying good product management processes to help them make better decisions.
Congratulations! Your constraints are actually a blessing in disguise. Without the team or funding, you are left with basically one option which just happens to be the most valuable part of the process. Find someone that needs your device. Sell them on the idea. Get them to give you some form of currency, preferably cash. Even better, convince them to pay you to build the product while you retain all of the IP rights.
Get through all of that, and you will find that getting funding is a more approachable problem.