Y Combinator-like acceleration programme at Cambridge University (UK)

More generally, does anyone know the story behind this organisation and programme? £5k/founder is nothing, particularly given the commitment for 13 weeks that the programme seems to require and the living costs in Cambridge, so the big question must be what is in it for the founders in terms of other value: advice, networking, etc. The site talks about how intensive the programme is, but is rather light on details, such as for example what the founders will really be doing for those three months and who is ultimately taking ownership of 6% of each company.

It sounds like this could be a valuable opportunity for young entrepreneurs to gain access to useful insights from those who have gone before, but from the limited information on the site and everything-newness of it all, I am at least slightly sceptical about the grandiose claims. 6% of a company is a lot to give up at such an early stage if you don't really know what you're getting into and there's no track record to consider...