When MP3 players that are heavy to carry, do not store huge amount of data and are not very classy to look are replaced by a white fruit like logo holding gadget, built by a company with the name of the fruit Apple... is Innovation.
You dont need to find unique original ideas for Innovation... you just need to find things that run in present and fail to satisfy the needs of customers.... improvising on those processes and tools and making them more effective and cheaper in all senses.. is Innovation.
The quality of your Innovation and the acceptance to it, will be determined by the fact of how many users like it, appreciate it, criticize it and oppose it... Remember your Innovation is not successful until you have enough criticism and opposition to it ;). Its the critics that will help you evolve your Innovations more.
So now dont wait to Invent... dont just wait so that you can think of something no one has thought.. just pick your brain in the shower, think of what are the things that are blocking people and are expensive to them in sense of time, effort, money and use.... and find a better way to do it....