One might run into this error when you delete your default View Controller (which has been automatically created by Xcode when you create a project) and create your own View Controller with new settings.
The following is complete error:
2016-02-03 15:31:24.954 VintageStore[8141:1258879] Failed to instantiate the default view controller for UIMainStoryboardFile 'Main' - perhaps the designated entry point is not set? Message from debugger: Terminated due to signal 15
This error has a very simple fix:
Select the ViewController Scene. Now, select the inspector panel from the sidebar options. Check the “Is Initial View Controller” attribute option, save the project and build the project again.