Huh? They should be paying THEM to participate! What value-add do they actually provide? If they're mentoring, what credentials do they have? From what I can see, they interview you and tell you your idea/product sucks or rocks and either boost or crush your ego. Is that all? You can find a desk in some quiet office for less than that amount and hack something out on your own and let the market tell you if your product is any good.

They don't even say if they're taking any equity for this 'service' that they're providing... but they must be. They also don't say how exactly they'll find your project once your own funding runs out. They're throwing the $1M figure around but they're not saying that they'll be actually providing you with that amount of funding or they expect you to make $1M by then end of 2010. My guess is the latter.