Unable to launch Episerver Commerce after fresh installation : Getting "The wait operation timed out"

Hi,

I successfully installed Episerver Commerce by following the steps provided in Episerver World website. When I try to launch Episerver CMS, I get Exception "System.ComponentModel.Win32Exception: The wait operation timed out".Kindly, help me to resolve this issue, let me know if more details required. Please find below the complete stack trace of the exception. 

Server Error in '/' Application.
The wait operation timed out
Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.
Exception Details: System.ComponentModel.Win32Exception: The wait operation timed out
Source Error:
[No relevant source lines]
Source File: c:\Users\PRIYANTA\AppData\Local\Temp\Temporary ASP.NET Files\vs\33b0a4e3\d5621188\App_global.asax.0.cs    Line: 0
Stack Trace:
[Win32Exception (0x80004005): The wait operation timed out]
[SqlException (0x80131904): Execution Timeout Expired.  The timeout period elapsed prior to completion of the operation or the server is not responding.]
   System.Data.SqlClient.SqlConnection.OnError(SqlException exception, Boolean breakConnection, Action`1 wrapCloseInAction) +212
   System.Data.SqlClient.SqlInternalConnection.OnError(SqlException exception, Boolean breakConnection, Action`1 wrapCloseInAction) +81
   System.Data.SqlClient.TdsParser.ThrowExceptionAndWarning(TdsParserStateObject stateObj, Boolean callerHasConnectionLock, Boolean asyncClose) +630
   System.Data.SqlClient.TdsParser.TryRun(RunBehavior runBehavior, SqlCommand cmdHandler, SqlDataReader dataStream, BulkCopySimpleResultSet bulkCopyHandler, TdsParserStateObject stateObj, Boolean& dataReady) +4233
   System.Data.SqlClient.SqlCommand.FinishExecuteReader(SqlDataReader ds, RunBehavior runBehavior, String resetOptionsString, Boolean isInternal, Boolean forDescribeParameterEncryption, Boolean shouldCacheForAlwaysEncrypted) +261
   System.Data.SqlClient.SqlCommand.RunExecuteReaderTds(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, Boolean async, Int32 timeout, Task& task, Boolean asyncWrite, Boolean inRetry, SqlDataReader ds, Boolean describeParameterEncryptionRequest) +2616
   System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method, TaskCompletionSource`1 completion, Int32 timeout, Task& task, Boolean& usedCache, Boolean asyncWrite, Boolean inRetry) +1635
   System.Data.SqlClient.SqlCommand.InternalExecuteNonQuery(TaskCompletionSource`1 completion, String methodName, Boolean sendToPipe, Int32 timeout, Boolean& usedCache, Boolean asyncWrite, Boolean inRetry) +375
   System.Data.SqlClient.SqlCommand.ExecuteNonQuery() +283
   Mediachase.Data.Provider.<>c__DisplayClass23_0.<ExecuteNonExec>b__0() +13
   EPiServer.Data.Providers.SqlTransientErrorsRetryPolicy.Execute(Func`1 method) +563
   Mediachase.Data.Provider.SqlDataProvider.WithRetry(Func`1 action) +32
   Mediachase.Data.Provider.SqlDataProvider.ExecuteNonExec(DataCommand command) +319
   Mediachase.MetaDataPlus.Common.DBHelper.ExecuteNonQuery(String connectionString, CommandType commandType, String commandText, Int32 commandTimeout, DataParameter[] commandParameters) +162
   Mediachase.MetaDataPlus.Configurator.StoredProcedure.ExecuteNonQuery(MetaDataContext context) +37
   Mediachase.MetaDataPlus.Configurator.MetaDataPlusDatabase.CreateMetaClass(MetaDataContext context, String metaNamespace, String name, String friendlyName, String tableName, String description, Int32 parentId, MetaClassType metaClassType) +835
   Mediachase.MetaDataPlus.Configurator.MetaClass.Create(MetaDataContext context, String metaNamespace, String name, String friendlyName, String tableName, Int32 parentId, MetaClassType type, String description) +64
   Mediachase.MetaDataPlus.Configurator.MetaInstaller.LoadMetaClassVersion10(MetaDataContext context, XmlNode xmlMetaClass, MetaClass parent) +459
   Mediachase.MetaDataPlus.Configurator.MetaInstaller.RestoreFromVersion10(MetaDataContext context, XmlNode root) +404
   Mediachase.MetaDataPlus.Configurator.MetaInstaller.Restore(MetaDataContext context, XmlNode root) +141
   Mediachase.MetaDataPlus.Configurator.MetaInstaller.Restore(MetaDataContext context, String xml) +145
   Mediachase.Commerce.Catalog.CatalogConfiguration.ConfigureMetaData() +93
   Mediachase.Commerce.Catalog.DefaultCatalogMetaDataModule.ConfigureMetaData() +51
   Mediachase.Commerce.Catalog.DefaultCatalogMetaDataModule.EnsureDefaultMetaData() +79
   Mediachase.Commerce.Initialization.CatalogInitialization.Initialize(InitializationEngine context) +46
   EPiServer.Framework.Initialization.Internal.<>c__DisplayClass2_0.<Initialize>b__0() +19
   EPiServer.Framework.Initialization.Internal.ModuleNode.Execute(Action a, String key) +52
   EPiServer.Framework.Initialization.Internal.ModuleNode.Initialize(InitializationEngine context) +80
   EPiServer.Framework.Initialization.InitializationEngine.InitializeModules() +179
[InitializationException: Initialize action failed for Initialize on class Mediachase.Commerce.Initialization.CatalogInitialization, Mediachase.Commerce, Version=13.18.2.0, Culture=neutral, PublicKeyToken=6e58b501b34abce3]
   EPiServer.Framework.Initialization.InitializationEngine.InitializeModules() +482
   EPiServer.Framework.Initialization.InitializationEngine.ExecuteTransition(Boolean continueTransitions) +153
   EPiServer.Framework.Initialization.InitializationEngine.Initialize() +40
   EPiServer.Framework.Initialization.<>c.<FrameworkInitialization>b__7_0(InitializationEngine e) +9
   EPiServer.Framework.Initialization.InitializationModule.EngineExecute(HostType hostType, Action`1 engineAction) +453
   EPiServer.Framework.Initialization.InitializationModule.FrameworkInitialization(HostType hostType) +170
   EPiServer.Global..ctor() +44
   CommerceTraining.EPiServerApplication..ctor() +29
   ASP.global_asax..ctor() in c:\Users\PRIYANTA\AppData\Local\Temp\Temporary ASP.NET Files\vs\33b0a4e3\d5621188\App_global.asax.0.cs:0
[TargetInvocationException: Exception has been thrown by the target of an invocation.]
   System.RuntimeTypeHandle.CreateInstance(RuntimeType type, Boolean publicOnly, Boolean noCheck, Boolean& canBeCached, RuntimeMethodHandleInternal& ctor, Boolean& bNeedSecurityCheck) +0
   System.RuntimeType.CreateInstanceSlow(Boolean publicOnly, Boolean skipCheckThis, Boolean fillCache, StackCrawlMark& stackMark) +122
   System.RuntimeType.CreateInstanceDefaultCtor(Boolean publicOnly, Boolean skipCheckThis, Boolean fillCache, StackCrawlMark& stackMark) +239
   System.Activator.CreateInstance(Type type, Boolean nonPublic) +85
   System.RuntimeType.CreateInstanceImpl(BindingFlags bindingAttr, Binder binder, Object[] args, CultureInfo culture, Object[] activationAttributes, StackCrawlMark& stackMark) +1173
   System.Activator.CreateInstance(Type type, BindingFlags bindingAttr, Binder binder, Object[] args, CultureInfo culture, Object[] activationAttributes) +130
   System.Activator.CreateInstance(Type type, BindingFlags bindingAttr, Binder binder, Object[] args, CultureInfo culture) +21
   System.Web.HttpRuntime.CreateNonPublicInstance(Type type, Object[] args) +59
   System.Web.HttpApplicationFactory.GetSpecialApplicationInstance(IntPtr appContext, HttpContext context) +148
   System.Web.Hosting.PipelineRuntime.InitializeApplication(IntPtr appContext) +303
[HttpException (0x80004005): Exception has been thrown by the target of an invocation.]
   System.Web.HttpRuntime.FirstRequestInit(HttpContext context) +659
   System.Web.HttpRuntime.EnsureFirstRequestInit(HttpContext context) +89
   System.Web.HttpRuntime.ProcessRequestNotificationPrivate(IIS7WorkerRequest wr, HttpContext context) +188
Version Information: Microsoft .NET Framework Version:4.0.30319; ASP.NET Version:4.8.4075.0