A couple years ago I read an article that asked parents to think back to their fondest childhood memories, then answer a simple question: Were your parents there? For most people, the author argued, the answer is "no." We treasure those experiences where we had to be independent and learn to work things out for ourselves. I wish I could find the article to link it here, but I can't seem to track it down.
Kids are often ready to go to camp long before their parents are ready to let go and send them. If your child can handle sleepovers with friends or relatives, she wants to go, the camp program looks fun and engaging, and you trust the staffing and safety precautions, then this is a great opportunity for her and is completely age-appropriate. The key is to make sure that she is making her own decision to go and doesn't feel forced into it, and that the program is designed to keep her busy and safe. It will also help if she's been to day camp before. Not something clean and air-conditioned like chess camp or art camp, but a traditional YMCA or Girl Scout outdoor or semi-outdoor day camp where they have to change into and out of swimsuits, put on their own sunscreen, keep track of their own stuff all day, walk everywhere in a buddy line, etc.
My daughter spent a week at Girl Scout camp when she was 6 and had a blast. She went back for two weeks at age 7. This summer, at age 8, she is going to a college gym camp in another state. I was a little worried about sending her to a college camp, so last year when I started investigating college gym camps I called up the camp I was most interested in and asked a lot of detailed questions about the average age of the campers, the daily schedule, supervision in the dorms and on campus, etc. I am sure any reputable camp would be happy to answer these types of questions from the parents of a prospective camper, and asking might help to ease your mind.
It sounds like your daughter is well positioned to have a great time at camp--her teammates and coaches will be there, and FlipFest looks like tons of fun. By sending her, you will be giving her the gift of an amazing experience. You will probably be surprised by how much she learns and grows while she is at camp. This is a big moment for you as a parent too--enjoy watching your daughter spread her wings and fly, and be proud that you were brave enough to give her the chance!