I have an aero-eng degree, but haven't worked in Avionics much. Most of the people I've met who do work in Avionics have electronics degrees + separate aeronautical experience.
I don't think the Avionics world is looking for exciting new ideas, it is looking for people who can make things work better, cheaper (or sometimes at-all).
You might like to look up aerospace systems degrees, which deal with flight controls, power systems etc. rather than just avionics. Southampton do such a degree, presumably others.
G