Biomed has surpassed software for the first time in attracting VC money–and it’s filling the gap, at least partially, that the dot.com bust created. In the last year high-tech investors have switched to supporting biotechnology and medical device companies — to the tune $241.7 billion in Silicon Valley alone. Biomedical companies create jobs and spending that can help smooth out a region’s rough spots.

“The Bay Area’s biomedical sector is getting one of every four venture capital dollars — compared with one out of 16 in the year 2000’s frenzy of high-tech investment.”

The article goes on to say that rate of payback is speeding up, and bio investors don’t have to quite so patient anymore. No wonder everybody’s in such a race for bio-tech-med favor