Is there a "minimal" version of the ioquake3 game libraries?

Please take a look at these links for help understanding the engine if you haven’t already: Essential links for beginners

There is no minimal starting point in terms of assets yet, it is still an unfulfilled goal of the project. The code does not really need to be stripped down, because the code is freely available unlike the assets which are still for sale and proprietary as part of the original game package.