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I love the story of Walter Hunt.  Born in 1796 in New York, Hunt was a serial entrepreneur who invented the fountain pen, a nail-making machine, a pre-Winchester repeater rifle, and America's first sewing machine, among others.  But it's an invention created out of financial necessity - and how he came up with it - that makes Hunt's story unique.

Hunt was 55 years old and in debt to a friend for $15 when he sat down at his kitchen table with a piece of brass wire and resolved to come up with something valuable enough to pay back the loan.  Serial entrepreneurs will note that Hunt's lack of funds created a situation where the piece of brass wire was the only available resource.

Hunt wasn't hampered by this singular resource, however.  After a few twists and turns, the inventor realized that he could create a spring from the wire and fasten one end into a catch created from the other end. 

Three hours later, Hunt had a draft patent application written for - you guessed it - the safety pin: a patent application that he sold days later for $400 (the equivalent of $28,000 in 2008 dollars, according to Wikipedia), to the same friend he owed $15.