Biomimetic robots are always interesting. Replicating the gait of a unique animal often creates interesting robots. Many things have been done before, but you might be able to come up with something there. A year project might not have a large enough scope for that, unless you went with something pretty simple.
A new type of vending machine could be neat. I like the ones that use a vacuum hose to pick things up when you buy them.
I always thought an actively articulated TV mount would be sweet - you could take as standard VESA mount for a flat panel TV, add a few actuators in the back, and make a remote. You could then aim your TV at the couch/chair you happen to be sitting in, or adjust for glare. Basically putting it on a 2 axis gimbal would do it.
A good way to come up with a project would be to talk to some of the design competition teams at your school. You might be able to build an active stabilization system for an aerial or underwater vehicle, or add some other subsystem they could use but normally would not be able to.
Maybe one of those will get an idea going for you. Make sure to post what your actual project ends up being, sounds like it could be interesting. Out of curiosity, what school?
You have sorted out electromagnetic braking for cars , these are already used you can find them , go through technical notes , internet , ask help from your project guide , we have discused them in past , you can find them in blog , forrum index