Semiconductor nanocrystals or quantum dots (QDs) are nanometer-sized fluorescent materials with optical properties that can be fine-tuned by varying the core size or growing a shell around the core. They have recently found wide use in the biological field which has further enhanced their importance. This review focuses on the synthesis of indium phosphide (InP) colloidal semiconductor nanocrystals. The two synthetic techniques, namely, the hot-injection and heating-up methods are discussed. Different types of the InP-based QDs involving their use as core, core/shell, alloyed, and doped systems are reviewed. The use of inorganic shells for surface passivation is also highlighted. The paper is concluded by some highlights of the applications of these systems in biological studies.

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