Can you check if a site folder was created under the /Projects folder on the file system?
If so, can you check the log files under the App_data / Sitefinity / Logs?
Have you entered the correct SQL Login information?
Do you want to have your say in the Sitefinity development roadmap? Do you want to know when a feature you requested is added or when a bug fixed? Explore the Telerik Public Issue Tracking
system and vote to affect the priority of the items