Why SpringBoard failed to launch application with error: -3
ios7, xcode5
Solution
Another possible reason: too little available RAM. This happened for me (old iMac with only 3GB of RAM, running too many apps at once) as I addressed in this answer:
iPhone Simulator: SpringBoard failed to launch application with error: 7
Problem
I am new to iOS 7, I am getting SpringBoard failed to launch application with error: -3 with Xcode 5