The 'VM creation Failed' error message usually occurs when JRE is missing on the machine. Make sure you have java installed on your machine and try
launching the application again.If you already have it installed it may not be working correctly, and I would suggest uninstalling and reinstalling it.
Please access the following site from where you can download the latest JRE and install it on your workstation.
http://java.com/en/download/manual.jsp