Though I have come across many developers, I still cannot find where there might be a place where Senior developers who love to work in start ups can be found and who understand financial constraints etc and are willing to bet on you.
Can you anyone provide some advice on where to look for this profile and how to handle this problem?
Senior developers make salaries (plus benefits) that a startup can't offer.
In today's economy the time needed to find a job is dramatically increased so developers don't take the risk to "try" a startup. In a better economy, I can say: let me try it and if fails I can get another job quickly. Not anymore.
If you want believers, "buy" them with strong incentives.
My 1.5 cents.
I would take exactly the opposite view of Tim Kara above.
Exactly because a job is hard to come by now, now is the time to take a risk on a new company. If it fails, by that time perhaps the economy will continue to improve and it will be relatively easy to get a job.
Also for truly good developers it's always easy to get a job. Yes even now.
Appeal to the fun and intangible advantages of a startup; obviously explicit immediate compensation will never be an advantage.
Finally, there isn't a single location where awesome people hang out looking for a date, any more than any other profession. It's always hard to find excellent people, and usually "networking" is the answer.
Check out "Should Tech Startups Outsource Product Development? " on TechCrunch.
Disclosure: There is a handful of startups in our client list.
Try craigslist or a local meetup or user groups to get local candidates. Pitch your idea to them and see if a good developer hooks up and believes in your idea. However senior developers usually have good jobs and don't have time for startups.