Just to clarify - a micro satellite is slightly larger and heavier than a nanosatellite that is commonly used in student projects. While nanosatellites weigh from 1 to 10 kg, a micro satellite weighs from 10 to 100 kg. Being that large, it can host more sophisticated space experiments that simply require more space but also there is plenty of room for numerous smaller sub-systems that can do other things. So generally even a small satellite is filled with lots of systems for carrying out experiments in space and they are often funded from several different projects.