Porto Theme trouble

I am having trouble with the Porto Theme i just purchased here the hosting i am using is Siteground woocommerce hosting Startup.

Porto functionality plugin install always fails

This plug in is required

Also in the system status i am getting this error

PHP max_execution_time *(120)*
Minimum **300** is required, **600** is recommended.

I need some help with this i can not ask for support in themeforest