Sabotage,
I don't fully understand what you mean by "ipm application."
But my guess is that you mean you want to launch a pre-compiled program that is on the SD card;
and there is no user interaction except for inserting the card.
Yes it is possible, but it requires a lot of work from you and hasn't been exercised much (i.e. it may have bugs).
The doc that describes this ability is in the v10 branch of the repository in the file:
docs/src/PlatformMarshalledModules.rst
You will then be responsible for reacting to the card insertion event and launching p14p at that point.
!!Dean