Final answer:
Wilhelm Wundt is credited with founding the first psychology laboratory and is a key figure in the formal establishment of psychology as a separate scientific discipline.
Step-by-step explanation:
The name most associated with the founding of the first psychology laboratory is Wilhelm Wundt. Wundt established the first laboratory dedicated to psychological research in Leipzig, Germany in 1879, marking the formal beginning of psychology as a scientific discipline separate from philosophy.
His approach to psychology focused on the scientific study of conscious experience, using methods such as introspection to analyze the components of the mind and how they combine to create our conscious experiences.