I've seen "startup indie studio" used to describe everything from two person home-based operations to fifty plus person full blown companies. The devil is in the details - who are these people, how serious are they, what's the background, what's the pay, is there an opportunity for post-graduation employment, etc. Make sure you have a very clear idea of the work, expectations, etc. Do not allow them to make you an office assistant.

As for Motorola, I've been in internship programs managed well (Microsoft) and managed poorly (NVIDIA). I don't know where on the spectrum Moto falls, nor which team they're actually considering putting you in. In large corps, the actual group you're being placed into can make a huge difference. If they refuse to tell you, then I'd be very wary.