On July 23, 2011, about 1617 central daylight time, a Cessna 172B, N7624X, experienced a total loss of engine power after takeoff from Middleton Municipal - Morey Field Airport (C29), Middleton, Wisconsin. The pilot subsequently made a forced landing off the departure end of the runway and impacted terrain, a tree, and a fence. The certificated private pilot and a passenger sustained no injuries. The airplane sustained substantial damage to both wings. The airplane was registered to and operated by the pilot under the provisions of 14 Code of Federal Regulations Part 91 as a personal flight. Visual meteorological conditions prevailed for the flight destined for the Wittman Regional Airport, Oshkosh, Wisconsin. The flight was originating at the time of the accident. The pilot stated that the airplane was fueled with 20 gallons of 100 low lead fuel at C29 prior to departing on runway 10 (4,000 feet by 100 feet, asphalt). He taxied to runway 10 and a before takeoff checklist. After waiting for a departing airplane to clear the area, he began the takeoff. The takeoff roll was about 1,200 feet. A "few seconds" after rotation and about 300 feet above ground level, the engine lost power. The pilot "immediately" reduced pitch attitude in order to avoid a stall. He performed a "very slight" turn to the left to avoid a light structure, and the airplane then contacted the ground similar to a hard landing. The airplane struck a berm, became airborne and struck a street curb, tree, and a fence. The airplane was registered as an experimental research and development exhibition aircraft since January 31, 2011. The airplane was equipped with a Teledyne Continental Motors IO-360D engine and a McCauley two-bladed D2A34C67/76C propeller, both of which were installed under supplemental type certificate SA01626WI. The airplane was equipped with a fuel selector between the forward seats and a guarded emergency fuel shutoff valve located under the cockpit mixture control. There was a three position (low, high, and off) auxiliary fuel pump control switch below the cockpit throttle control. The fuel selector provided fuel to a reservoir tank from the selected wing fuel tank. The guarded emergency fuel shutoff valve is installed between the fuel reservoir tank, estimated to be one gallon in capacity, and the auxiliary fuel pump, which is mounted on the engine firewall. On July 27, 2011, an airworthiness safety inspector from the Milwaukee Flight Standards District Office conducted an engine run without removing the engine from the airframe. An attempt was made to start the engine but was unsuccessful because the emergency fuel shutoff valve and fuel selector were in the off positions. The emergency fuel shutoff valve was opened and the fuel selector valve was positioned to the right fuel tank. The engine was then able to be started and ran briefly at a low engine speed with extreme vibration due to the propeller being damaged.