CubeSat Project was proposed by Professor Bob Twiggs (Stanford University, USA) at University Space Systems Symposium (USSS) in HAWAII, November 1999. "CubeSat" means S3-SAT (Student, Space, Study Satellite), and the shape of this pico satellite is cubic.
The objectives is an education for design/development of pico satellite and development of the satellite whose costs is very low. A shape of CubeSat is 10cm cubic, and a weight is less than 1kg. It is just SMALL Satellite.
Each university has been designed/developped each CubeSat. The first launch is scheduled in 30th June 2001 by Russian rocket "ROCKOT".