VMJ9VM015W Initialization error for library j9gc24(5): Failed to allocate default memory space Could not create the Java virtual machine.

The above Error occurs only when the JVM heap size greater than the memory resources available.

• Check the Servers JVM  Heap Size.
• Web Sphere 7.0 Administrative console -> Servers -> Server Types > WebSphere Application servers -> Click on application server (usually MXServer) -> Java and Process Management-> Process Definition -> Java Virtual Machine.
• Maximum Heap size (Xmx): 3072(Depends on Ram Size.
• Initial Heap size (Xms): 2048(not less than 512)
• Restart application server.

* If the Issue is not yet revolved .Check whether the Generic JVM arguments field is empty .If any value exits. Remove it and restart the server.