Strong many-body effects have been observed in the time-resolved photolumin
escence spectroscopy of self-organized InAs/GaAs quantum dots. Our results
show that the effects generate a considerable bandgap renormalization, bein
g 28 meV at a dot occupancy of 20 electron-hole pairs for the lowest transi
tion. Tt is also found that many-particle state scattering gives rise to a
large homogeneous broadening of the photoluminescence peak, from which we e
stimate the intradot relaxation time to be 300 B. The fast intradot relaxat
ion is supported by time-resolved measurements with direct excitation.