Novel semiconductor quantum dots (QDs), grown in tetrahedral-shaped recesses (TSRs) formed on a (111)B GaAs substrate, are described from both material science and device application points of view. After explaining the fabrication procedure for TSRs, growth of InGaAs QDs and their optical properties are explained. It is revealed that an InGaAs QD of indium-rich chemical composition is formed spontaneously at the bottom of each TSR. The mechanism of the QD formation is discussed in detail. It is proved from magneto-photoluminescence that the QDs actually have optical properties peculiar to zero-dimensional confinement. Several experimental results indicating excellent growth controllability of the QDs are presented. Finally, recent challenges to apply the QDs to electronic memory devices are reported. Two kinds of devices, where the position of individual QD is artificially controlled, are proposed for the first time and the preliminary experimental results are explained.