Students at the University of Saskatchewan in Saskatoon are hoping to build a small satellite which could be rocketed into space.

Members of the university's Space Design Team have been working for months on the project, which is a competition to see if they can design and build a satellite about the size of a loaf of bread, that can perform scientific research once in orbit.

"We're really coming at it from the very ground up," Zach Aitken, a team member, told CBC News. "[We're] drawing from experiences learned in our own disciplines and piecing it together."

The team is competing against other students. Winning satellites will be sent to the Canadian Space Agency lab in 2012.

The U of S team has some previous experience in such competitions, having worked on a space elevator for NASA.

"We're at the point now where we understand what systems need to be present in the satellite," Aitken said.

They also need about $100,000 to pay for and test their satellite.