Silicon is the second most abundant element in the Earth’s crust and could be considered an environmentally benign material. Silicon has been widely used in electronic devices and solar cells, and it has dominated the semiconductor research and development. However, the photoluminescence (PL) of the bulk material shows an invisible NIR wavelength (λ ~ 1100 nm). In addition, the PL quantum yield (PLQY) of bulk crystal Si is ~0.01% owing to the indirect transition nature. In contrast, silicon quantum dots show PL in the entire visible spectral region [1]. Furthermore, colloidal silicon quantum dots demonstrate PLQYs of 60% [2], and thereby they give highly impact as environmentally benign and heavy-metal-free quantum dots (i.e., In, Cd, and Pb free) for displays, lighting, and biomedical imaging via solution processing. Indeed, silicon quantum dot LEDs have recently been produced from a natural substance, by upcycling discarded rice husks [3].Herein, red PL with a PLQY of 60–80% and LEDs with an external quantum efficiency of >10% were obtained at 1/3600th of the cost of existing methods. This was achieved by using trichlorosilane and an organic solvent to prepare a hydrogen silsesquioxane (HSQ) polymer, and by optimizing the LED optoelectric properties. Based on many silicon quantum dots synthesized in our study, each of them enabled us to quantitative the relationships HSQ polymer structure, PLQY, and LED efficiency, exhibiting the critical parameters that governed their performances. Moreover, the simple and cost-effective methods proposed here could prove invaluable for the synthesis and characterization of silicon quantum dots in the near future.