Control projects cannot be run alone.  Use File, Add Project to add a Standard Exe project, close the User Control design window, and then place a test instance of the control on Form1.

An ActiveX control cannot be run as an independent project. To test your control project:

Testing controls at design time and run time is introduced in the step-by-step procedures in "Creating an ActiveX Control" in the Component Tools Guide. More information on testing components can be found in "Debugging, Testing, and Deploying Components" and "Debugging Controls" in the Component Tools Guide.