Etymology
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launch (v.)

c. 1300, "to rush, plunge, leap, start forth; to be set into sudden motion," from Old North French lancher, Old French lancier "to fling, hurl, throw, cast," from Late Latin lanceare "wield a lance," from Latin lancea "light spear" (see lance (n.)).

Meaning "to throw, hurl, let fly" is from mid-14c. Sense of "set (a boat) afloat" first recorded c. 1400, from notion of throwing it out on the water; generalized by 1600 to any sort of beginning. Related: Launched; launching.

launch (n.1)

"a leap or a bound," mid-15c., from launch (v.). Meaning "place where a boat is launched" is from 1711. Meaning "the liftoff of a missile, spacecraft, etc." is from 1935. Launch pad attested from 1960.

launch (n.2)

"large boat carried on a warship," 1690s, from Portuguese lancha "barge, launch," apparently from Malay (Austronesian) lancharan, from lanchar "quick, agile;" if so, the English spelling has been influenced by launch (v.).

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Definitions of launch
1
launch (v.)
set up or found;
Synonyms: establish / set up / found
launch (v.)
propel with force;
launch the space shuttle
launch (v.)
launch for the first time; launch on a maiden voyage;
launch a ship
launch (v.)
begin with vigor;
He launched into a long diatribe
Synonyms: plunge
launch (v.)
get going; give impetus to;
launch a career
Synonyms: set in motion
launch (v.)
smoothen the surface of;
launch plaster
2
launch (n.)
a motorboat with an open deck or a half deck;
launch (n.)
the act of propelling with force;
Synonyms: launching
From wordnet.princeton.edu