The MDI Biological Laboratory in Bar Harbor has established a scientific innovation fund in honor of Dr. William Procter (1873-1951), a businessman, entrepreneur and scientist.

Procter’s “Biological Survey of the Mount Desert Region,” published between 1927 and 1946, has been an invaluable resource for biologists studying the fauna of the Mount Desert region, according to the laboratory.

The fund will provide up to $50,000 annually to full-time faculty members, students or research fellows at the MDI Biological Laboratory or its spinoffs to support areas including high-risk/high impact research, basic scientific research with potential for commercialization, and education programs focused on translating scientific discoveries into commercial applications.

Procter’s collection is housed at Acadia National Park, where it is used to study changes that have occurred in insect and marine life, Procter’s main areas of interest.

The fund was established by a member of Procter’s family. Procter was the grandson of Procter & Gamble founder William Procter.