Please follow the following steps:
Set the maven goal by clicking the "+" in IntelliJ (circled area)

Write
mvn install.
Set the VM Options as:
-Dspring.profiles.active=development
After that it should just run fine just by clicking the green play button.
Answer from Ali on Stack OverflowIntellij Spring Boot project run configuration - Stack Overflow
Intellij IDEA Spring Boot configuration - Stack Overflow
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java - How to configure Spring Boot Run Configuratipon in IntelliJ - Stack Overflow
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Please follow the following steps:
Set the maven goal by clicking the "+" in IntelliJ (circled area)

Write
mvn install.
Set the VM Options as:
-Dspring.profiles.active=development
After that it should just run fine just by clicking the green play button.
This should help you get started.

You can install a plugin called Spring Assistant:
Now you can use the initializer as:
Personally, however, I use Spring initializer at start.spring.io
EDIT: Adding run configuration
Select Edit Configuration from the Run menu
Now in the dialog box, lick on the + button and select Application.
Now you just need to provide the name of the main class. You could click on the browse button(...) to get a list of files having main(...).

As everyone else mentioned, use https://start.spring.io to start your Spring Boot project. Download and open in IntelliJ Community Edition.
Where you will face some difficulty is in running the project; - Ultimate Edition has a Spring Boot plugin that is missing in Community Edition.
You may get errors especially if your main folder of your project is one level higher than the root of your IntelliJ project.
For this, use the Maven run option.
Edit Configuration and Click the + to create a new Maven configuration

