Launch runs your build through Google Ads' own validation before anything is created, so a failed launch is Google objecting to something specific - and the error names it.
The usual causes
Account-level setup - billing not configured in the Google Ads account, or the account not fully activated. Fixed in Google Ads, then relaunch.
Account link - the selected Google Ads account isn't accessible; re-check the connection.
Policy objections - a headline or asset tripping a Google policy for the vertical; edit the named item in Review and relaunch.
Your build is safe throughout - a failed launch changes nothing in Clicc, and you can relaunch as soon as the named issue is fixed.
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Launching the campaign
Validated, pushed, created paused - you flip the switch.
The Review step
What to check, in what order, before setting a budget.