EVAL-TPG-ZYNQ3 (ZC706) does not boot SD card

We have purchased EVAL-TPG-ZYNQ3 (Xilinx ZC706) + ADRV9371-W/PCBZ boards. The ZC706 came with SW11 set to 00010 (only 4 ON) and performs all tests properly using the debug UART port and a terminal program.

We prepared PC by installing TES RadioVerse software, set IP address according to UG-992 and connected the ZC706 via ethernet directly to the PC.

Setting SW11 to 00110 (only 3+4 ON) and inserting SD card with "NOV 2016 rev 2.0 Windows-based TES" software does not boot the ZC706. I was expecting the LEDs to flash like in the video with Tom Karpus and ZC706 board to boot up.

Connecting an HDMI Monitor and using the other SD card with the Dec 2016 (2016_R1) software also doesn't boot the ZC706 board.

What do we miss to setup to get the ZC706 to boot from SD card?