Kvarken Space Centre is a project conducted by a consortium of Finnish and Swedish academic institutions aiming to enhance the economic activities of the Kvarken region shared by the two countries, by improving the regional competence in space technology. In this framework, the consortium is developing a first 2UCubeSat, namely KvarkenSat, with the goal of exhibiting the regional capabilities in satellite developmentvia performing science and in-orbit demonstration of Finnish payloads. Since the main areas of interestare forestry and sea transportation, the CubeSat will integrate a multispectral camera for forest health and seawater quality analysis and an automatic identification system (AIS) receiver for sea vessel tracking. In addition, the spacecraft will perform the in-orbit demonstration of a miniature water-based resistojet thruster system. KvarkenSat’s last payload will comprise a GNSS receiver that will extract raw data inorder to conduct precise point positioning (PPP) algorithm research. This work is meant to present the mission concept, objectives and technical overview of the current design. The launch of KvarkenSat is planned for Q4 2022 from northern Sweden.