The first student-developed and -built rocket to be launched from Cape Canaveral has lifted off to applause and loud victory yells. The Florida Institute of Technology rocket was launched at 2:30 p.m. Wednesday from Cape Canaveral Air Force Station's Launch Complex 47.

Called "Panther 1" for the Florida Tech mascot, the rocket followed a perfect parabolic path to splash down in the Atlantic as planned. The FIT team was assisted by Embry-Riddle Aeronautical University.

The students responsible for the Panther 1 development are involved in Florida's Space ioneer Cup — a university competition to launch a student-designed and -built rocket into space and a way to involve students in the "real-world" rocket launch process.

Source: United Press International