As with all performance issues there is rarely a magic bullet.
Memory pressure - the app is starting up but the 512m heap is only just enough to fit the applications in and it is spending half of the start up time running GC.
Have a look at any of the following:
1. -verbose:gc
2. jstat -gcutil
2. jvisualvm - much nicer UI
You are trying to see how much time is being spent in GC, look for many full garbage collection events that don't reclaim much of the heap ie 99% -> 95%.
Solution - more heap, nothing else for it really.
You may want to try -XX:+AggressiveHeap in order to get the JVM to max out it's memory usage on the box, only trouble is with only 1gb of memory it's going to be limited. List of all JVM options
Disk IO - the box it's self is not running at close to 100% CPU during startup (assuming 100% of a single core, startup is normally single threaded) then there may be some disk IO that the application is doing that is the bottle neck.
Use the operating system tools such as Windows Performance monitor to check for disk IO. It maybe that it isn't the application causing the IO it could be swap activity (page faulting)
Solution: either fix the app (not to likely) or get faster disks/computer or more physical memory for the box