PHX Startup Week returns to the Valley next week Feb. 22 through Feb. 26. Created by entrepreneurs for entrepreneurs, this week-long Valley-wide showcase celebrates Arizona’s entrepreneurial community.

Boasting a different location each day, this year’s event kicks off at 111 W. Monroe, a locally owned downtown office tower focused on attracting entrepreneurial and creative use tenants. As part of their continued support of PHX Startup Week, the owners of 111 W. Monroe are sponsoring the StartUp PHX Challenge.

One lucky applicant will receive six months of free office space (approx. 1,200 square-feet) at the downtown building. With amenities such as the light rail, a newly renovated lobby, valet parking, and a prime downtown location, this is an exciting opportunity for any startup looking to take their business to the next level.

Last year’s winner, Allbound, believes that 111 W. Monroe has been an integral part of its success.

“Allbound has grown from three to 15 employees over the last nine months, and the benefits and support we’ve received from the Monroe Building have been incredible. Winning last year’s StartUp PHX Challenge not only freed-up critical dollars that we were able to allocate back to growth and sales, it also introduced us to invaluable collaborative opportunities that have come our way as a result of being in the building,” said Scott Salkin, CEO and founder of Allbound.

“We love the space that we won as part of the Challenge, and couldn’t be happier to have signed a new three-year lease on a suite that will be more than double the size to accommodate our growth. Downtown Phoenix is a great place to do business, especially if you’re in tech.” he said.

Businesses are encouraged to enter the StartUp PHX Challenge by applying online through the 111 W. Monroe website. Applications must be received no later than March 15th, 2016. The winning tenant will be selected and announced in late March.

Complete application, contest rules, details and restrictions are available at www.111westmonroephoenix.com/startupphxchallenge.