What should be our next steps?

You next step should be to create first version of you application.

You don't have a business plan, all you have is a document with the title "business plan".

An actual business plan would include, well, a plan for how to start your business - including actual steps you have to follow.

Here are the steps I follow when I think about introducing a new product (I don't really know what you are trying to do, so this may of may not be relevant for you):

1. Do some initial market research - your big idea might be not-sellable, so you should try to validate the idea is good before you waste too much resources on it, getting some sort of positive feedback (e-mail signups from potential customers, for example) before starting can reduce risk - but don't spend too much time in this step (If you can do step 2 in under a month you can skip this step completely).

2. Build the prototype/first version - pick just one feature, preferably the feature that makes you app better than the competition and implement just that.

3. For bootstrapped/self-funded company start selling you first version, use the feedback and money from customers to see what the customers really care about and make the product better.

I personally think that self-funded is the way to go unless there isn't any other choice and because I have no expiration what so ever with outside funding I can't really say anything about it.

Ditto what Ross said. You need to actually build the app -- even a primitive, ugly version of it. Seeking funding with no prototype and no revenue will be next to impossible and suck up all your resources for the next year. Build a prototype and sign up some customers, and you may discover you don't need the funding at all.