This TMCNet post points to SEA (Systems Engineering and Assessment, Ltd), a United Kingdom company that’s trying to make micro-satellites smaller and cheaper. They’re latest project is an OmniSat kit.
The kit is supposed to be modular but flexible. What SEA is providing, is a common micro-satellite bus (you can read more about what a bus does, here). The micro-satellite bus kit SEA is developing can be tweaked to accommodate different payloads. These satellites will be small, according the post: 10-50 kilograms (22-110 lbs). SEA also believe that from satellite conception to launch, they will be able to reduce the time to 12 months when using this kit. The typical time for a normal satellite takes years. For some dysfunctional satellite programs, decades.
SEA’s project is funded by the European Space Agency.