Amalgamating a HD camcorder with the latest Pico projector, Taiwan-based electronics company Aiptek is set to release the world’s first camcorder and digital projector. Entitled the “Aiptek Z20,” the multipurpose device can project content up to 65 inches diagonally. Generating power from an LED light, the Z20 touts portable HD video capturing capability and captures still images at 5 megapixels to be stored in a built-in 2GB of memory. Priced at €349, the Z20 is ready for its European launch next month. Check out the video after the jump.