The most common and most likely answer to this crossword clue is the 10 letter word INTRODUCES
I've seen this crossword clue in The Daily Telegraph
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More clues leading to the result INTRODUCES
Buddy explains!

The straight part
We know that "Launches" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case launches = introduces.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does INTRODUCES mean?
INTRODUCES verb- (of people) To cause (someone) to be acquainted (with someone else).
- To make (something or someone) known by formal announcement or recommendation.
- To add (something) to a system, a mixture, or a container.
- To bring (something) into practice.