We report on an efficient and fast hybrid photorefractive polymer sensitized with CdSe quantum dots. The surface of the quantum dots was treated with 4-methylbenzenethiol. This surfactant allows the quantum dots to have an efficient photoinduced charge generation when mixed with a mixture of chromophores. The enhanced photoconductive properties lead to fast grating build-up times of 100 ms and below. In four-wave mixing experiments, overmodulation of the diffraction efficiency was observed at an applied field of 60 V/μm and gain coefficients on the order of 20 cm-1 at moderate fields.