"It was important for us to be involved and part of the cycling community in Rotorua."
She said former world single speed champion, Rotorua's Garth Weinburg, would be pushing the old record to its limits. "He came very close the last time he tried."
The team at Agroventures will be putting on a free barbecue, there will be music and entertainment and a festival atmosphere.
The event kicks off at 4pm and runs until 7pm. Registrations are being taken at the event.
Events and Venues events manager Martin Croft said he was feeling a combination of excitement and nerves as the festival got underway.
"We're keen to see people out there getting involved in any way they can, whether competing, organising or spectating.
"It's been so pleasing to see so many people come up with great ideas for the events - having 24 events for the first festival has been incredible."
For the programme visit www.rotoruabikefestival.com. The festival runs from today until Sunday, February 17.