The projects uses Python v3, appropriate version should be installed. Dependencies are listed in requirements.txt, they are to be installed via pip (pip install -r requirements.txt).
We think that using some Javascript-build tool is an overkill, so all Javascript dependencies are included in repository.
You can run the project from command line, given you have Python interpreter configured: python manage.py runserver.
It's a really good idea to have it as a run configuration in IDE (I'd use PyCharm).