KASI and Seoul National University developed the Fast Imaging Solar Spectrograph (FISS) as one of major scientific instruments for the 1.6 m New Solar Telescope (NST) and installed it in the Coude room of the NST at Big Bear Solar Observatory (BBSO) in May, 2010. The major objective of the FISS is to study the fine-scale structures and dynamics of plasma in the photosphere and chromosphere. To achieve it, the FISS is required to take data with a spectral resolution higher than $10^5$ at the spectrograph mode and a temporal resolution less than 10 seconds at the imaging mode. The FISS is a spectrograph using Echelle grating and has characteristics that can observe dual bands (H${alpha}$ and CaII 8542) simultaneously and perform fast imaging using fast raster scan and two fast CCD cameras. In this paper, we introduce briefly the whole process of FISS development from the requirement analysis to the first observations.