A novel Liquid Gas Propulsion System (LGPS) for small satellites developed by a multicultural group of students from The Technical University of Berlin (TU Berlin) in the scope of the 2017 Master of Space Engineering (MSE) is presented. The propulsion system, colloquially named Icarus, is of the Liquid Cold Gas Propulsion class and employs butane (C4H10) as working propellant. The main goal of the Icarus project is to ensure Along Track Orbit (ATO) formation flight with various distances for 2 small satellites on the same orbital plane for a mission duration of 1 year. The team prioritized the use of readily available non‐space Components‐Off‐The‐Shelf (COTS) to reduce costs at all levels. To control the project and system risks common to such pedagogic projects, a detailed development plan following ECSS standards was tailored taking into account the available project resources. At the end of the Preliminary Design Review (PDR) the system presented a total wet mass of 0.98kg, with 0.58kg dry mass, and can deliver a total ΔV of 42.17m/s to a 4kg satellite. The propulsion system is designed such that it can be upgraded for larger spacecraft, such as TU Berlin's TUBiX‐10 family. In a time span of 3 months, the group of 11 students from 5 different countries (India, Iran, Mexico, Spain and USA) successfully completed the PDR of the system, enabling them to continue developing the academic project for TU Berlin. The design of the LGPS together with the simulation results and the system's development plan are presented in this paper, allowing students world‐wide to get a glimpse on the feasibility and benefits of working in a highly multicultural space project.