Ultrafast non-equilibrium dynamics offer a route to study the microscopic interactions that govern macroscopic behavior. In particular, photo-induced phase transitions (PIPTs) in solids provide a test case for how forces, and the resulting atomic motion along a reaction coordinate, originate from a non-equilibrium population of excited electronic states. Utilizing femtosecond photoemission we obtain access to the transient electronic structure during an ultrafast PIPT in a model system: indium nanowires on a silicon(111) surface. We uncover a detailed reaction pathway, allowing a direct comparison with the dynamics predicted by ab initio simulations. This further reveals the crucial role played by localized photo-holes in shaping the potential energy landscape, and enables a combined momentum and real space description of PIPTs, including the ultrafast formation of chemical bonds.Artists view of the excitation and formation of chemical bonds along Indium nanowires (red balls) on a Silicon(111) surface during the ultrafast photoinduced phase transition between the 8x2 and 4x1 structures. This real space view of atoms and bonds is complemented by detailed measurememets of the electronic structure of electrons in their "momentum space" exhibiting the evolution of the band stuctrue providing a complete picture of the phase transition. 3 In/Si(111) undergoes a transition from an insulating (8x2) to a metallic (4x1) structure above 130 K (27,28), r-space schematics of which are shown in Fig. 1, C and D, respectively. The bonding motif in the insulating phase (Fig. 1C) consists of distorted hexagons, while in the conducting phase the In atoms rearrange into zig-zagging chains (Fig. 1 D).The k-space band structures of the two phases calculated within the GW approximation are given below the relevant structures in Fig. 1, E and F. In contrast to the (4x1) phase which has three metallic bands (m1 -m3) that cross EF (17), the (8x2) phase is gapped at the Γ 8x2 and X 8x2 points. Upon increasing the temperature across the (8x2) to (4x1) phase transition, the states initially lying far above EF at Γ 8x2 shift down in energy and eventually cross EF, forming the metallic m1 band of the (4x1) phase. Concurrently the energy gap in the m2 and m3 bands at the X 8x2 point closes, while at the same time the bands shift apart in momentum along the kx direction (23). We note that the three metallic bands predicted from the calculation in the (4x1) phase are clearly observed in Fig. 1B. The Fermi surface of the (4x1) phase in Fig. 1G shows the momentum cut along which our data are obtained.