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I received the following email just now:

Startups Paradise is a cloud based Global Pre-Accelerator program backed with promotional funding of $50,000 for top 5 ideas. This is a program which helps to scale your idea, give life to it and make it ready for accelerator program. We focus on Idea Scaling, concept building, UI/UX design, product development, testing, peer review, scaling and deployment.

At Startups Paradise, Journey of an entrepreneur starts with just an IDEA which takes proper shape under the guidance of our market leaders and domain experts. We provide one to one mentorship to enhance your concept and make it market ready based on which you can apply for different accelerator programs, demonstrate your product to global investors and seek funding.

This is a cloud based program so your physical presence doesn't required, one to one meetings and mentorship will be done through virtual mode of communication.

In returns we take just 5% stake in company and a fixed fee of USD 4000 only, payable in two equal parts.

After successfully completion of ideation period, our expert panel will select top 5 ideas who will be awarded with $10,000 each as initial funding for branding and marketing purpose before going to accelerator programs.

What do you guys think?

I wouldn't go anywhere near it. 5% and $4000 without any evidence of who'll be mentoring on the program, who's running it, what their credentials are, where they're based (regardless of it being virtual), or any proof of past successes, makes it sound a lot like a scam. The mistakes through the page don't help, and ... http://www.startupsparadise.com/#services ... what the hell is that thing?

I'm actually wondering if it's a spoof.

I don't think it's a spoof, it's sent from f6s list. But I agree, it sounds like a scam.
I would tend to be very skeptical of any program which asks entrepreneurs to pay them.