Slovenian scientists are trying to improve the design and the making of a nanosatellite in a bid to have it launched into space in 2016 or 2017, Slovenian Press Agency reported on Sunday.

The nanosatellite, which weighs only four kilograms, is a 1 million-U.S.-dollar project by Slovenian firms including SkyLabs with the help of Faculty of Electrical Engineering experts and under the watch of the European Space Agency.

The team is now looking for sponsors aiming for the launch of the artificial satellite, which is to cost 300,000 euros (388,802 U.S. dollars).

The nanosatellite could be used to monitor vegetation, and to detect flooding and fires, Iztok Kramberger from the Maribor Faculty of Electrical Engineering said.

Nanosatellite, introduced by U.S. National Aeronautics and Space Administration (NASA) some time around 2004, refers to artificial satellites with a mass between 1 and 10 kilograms.