Choices - I meant to write last night but got tied up. Being on that side of the table, I get their motivation. However, that sounds like a rather large amount of money.

LaunchBox Digital - an incubator around here - gives teams $20k I think, plus connections and other resources. $100k is lot of money to develop a product. It's certainly not unreasonable if the specs call for it. But as someone else said, they're going to get paid regardless, PLUS they want future revenue from the idea.

I think you should shop around some more, and I'd be interested in talking to you more about this. Contact me at mgkimsal@gmail.com - willing to consider a money/equity split, and probably not anywhere near a $100k deal. :)