A method of manufacturing a mounting substrate according to an embodiment of the present technology includes the following three steps: (1) a step of forming a plurality of electrodes on a semiconductor layer, and thereafter forming one of solder bumps at a position facing each of the electrodes; (2) a step of covering the solder bumps with a coating layer, and thereafter selectively etching the semiconductor layer with use of the coating layer as a mask to separate the semiconductor layer into a plurality of elements; and (3) a step of removing the coating layer, and thereafter mounting the elements on a wiring substrate to direct the solder bumps toward the wiring substrate, thereby forming the mounting substrate.