Its the short of initial coin offering. Basically when a new project comes up , they are offering their coins from cheap pricess in return of supporting their project. Its a great way of multiplying your money. If you find a good new project dont hesitate to participate in its ico.
And much better to do some research before you grab that opportunity because there's so many ICO's project now was become a scam they didn't fulfill their promises about the project, yes that kind of opportunity is good when it comes to gain a profit but like i said doing some research is crucial.
By the way, like everyone siad, the meaning of "ICO" is ( Inital Coin Offering ) and they also called "Initial Public Coin Offering" or IPCO in short.