The world probably doesn’t need more food delivery or nightlife-planning apps, but I do think it does badly need more companies — all over the world — that innovate in the Wi-Fi accessibility, agricultural, and energy efficiency sectors. Regardless of location, what products do we need more of (and more innovative versions of them)?
Spend a week making a note of everything you do that irritates you. Stuff that you think 'oh why is it so difficult to do this'. Banking, booking a taxi (guess that one has been done), paying for stuff, finding that old receipt to get a refund, filling in your tax return, finding out what date the next House of Cards begins, ...
anything and everything. But then chat to others. Is it just you or do others think it needs to change too.
very little is really new any more. It is all about making existing things in life easier, quicker, cheaper, more accessible, etc.
The big one i personally would love to do but it is (for now) beyond my pay grade is to rip up the entire banking industry and start a new way of banking. even these new UK challenger banks haven't really done anything revolutionary. But in the days of the internet there is zero reason for it to take 5 days for me to send a business payment to someone on the other side of the world. It should take no longer than it takes for my finger to lift off the "send" button on the screen of my phone. i could go to my bank, take out £20k, put it in a briefcase, fly to the other side of the world, give it to my supplier, have a meal and beer with him and fly home ... all quicker than my supposed "challenger bank" will let me send it electronically. Ridiculous ;-)
Innovation never ends. Could you offer a better solution regardless of location that would be question irrespective of the market segment.
World peace elixir would be something useful.
The answer is possibly any product that has been already successful.
Take any field that you are interested in. Pick a product that a few companies had already success with (preferably recently). Then ask yourself:
* Can i make it better with my unique flavour on top of that?
* Are there not too much competition already in this?
If both answers are "Yes" you have yourself a potential product that would be in demand.
Hope this helps
Regardless of locations and as far as I'm aware, the world is full of things that we can recycle. Outside of the common plastic and glass bottles, there are lots of other things that can be recycled which people may or may not be aware of. So, if I were to choose a specific industry, eliminating waste would definitely do this world a favor.
I recommend researching the "Smart Cities" initiative. It is worldwide and tries to solve fundamental problems. It covers Transportation, Housing, Water, Sanitation, Health, Safety, IoT, etc. Many governments and NGOs are involved and there is a lot of funding available. If you cannot find a global/local problem here to solve, you cannot find it anywhere.
Smart Cities Market worth 757.74 Billion USD by 2020 http://www.marketsandmarkets.com/Market-Reports/smart-cities-market-542.html