This project template already has a local database set up and ready to use. All you need to do is import some data into it.
To import a file (e.g. a SD file) try choosing Import File... from the right click menu of the localdb database connection. This will open the import wizard which will guide you through the process of importing data into the Instant JChem database.
To create a new empty table choose New Data Tree and Xxx table (where Xxx is the type of table you want) from the right click menu of the localdb database connection.
To create a connection to a different database choose New Schema from the right click menu in an empty area of the project explorer. To connect to remote databases you will need an IJC license key. To enter license keys use the Help -> Licenses... menu.
Enjoy!