As I mentioned earlier in this thread, I believe you need to work on market research and a business plan. Though I would venture to say that $580 is not even going to interest the larger 'corporate sponsors' that you mentioned.
For less than $19 you can set up the hosting & domain ($8.95/domain and $8.95/hosting - first month). You can always switch hosts later. I assume you are designing the site yourself (?). My advice - to echo another member - would be to
get started. And again, to find alternate ways to
earn the money that you need to pay the artist.
It seems to me that you are methodically disputing every option or idea that you are given... From where I stand, its really not as "out of reach" as you make it sound