Biomed in Silicon Valley pulling big VC dollars

Biomed has surpassed software for the first time in attracting VC money–and it’s filling the gap, at least partially, that the 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