It was the invention of Jay Hormel, son of George Hormel who founded the Hormel company, which pioneered canned pork products in Austin, Minn., in the late 1920s.
According to the company’s Spam Museum, Ken Digneau, the brother of a Hormel executive, came up with the name — a portmanteau word for “spiced ham” — in a naming contest and got $100 as a reward. The new product was introduced on July 5, 1937.