i-INSPIRE (initial-INtegrated SPectrograph, Imager and Radiation Explorer) is a project at the University of Sydney combining expertise from the School of Physics and the School of Aerospace, Mechanical and Mechatronic Engineering. i-INSPIRE is a small, light-weight, tube-shaped satellite which will be the first of its kind to be fully constructed and operated by an Australian university. It will also be the first space-based photonic mission. The unique instrument payload consists of an innovative photonic spectrograph (NanoSpec), a radiation counter and a simple imaging camera. The satellite has several aims, the primary being proof-of-concept. i-INSPIRE will concretely demonstrate that Australian universities have the potential for leadership in space science and technology. In addition to this the mission has great scientific potential. For instance, NanoSpec will measure the first spectra from a space-borne photonic device. The on-board radiation counter will return a radiation map of the Earth which can be compared with the output from NanoSpec to study the effect of radiation on photonic devices. i-INSPIRE will also deliver the first photographs of Australia from an entirely Australian-owned and -operated spacecraft and will pave the way for larger and more complex projects in the near future.