Mrs Northcroft said there was nothing out there at the moment that specifically filled the networking need for Maori businesses.
She said the group was keen to work together with other business organisations such as the Chamber of Commerce and Maori in Tourism Rotorua.
"We have got a lot of businesses here and there is power in numbers."
As a not-for-profit organisation, Takiwai aims to bring together business owners from all walks of life and this is reflected in the make-up of the new board.
Membership is also open to students at a discounted rate, with the goal of getting the next generation of Rotorua business people involved.
Mrs Northcroft said the network aimed to increase its online presence, with its website, Twitter and Facebook accounts up and running.
She said the 10-person board would meet this week to start finalising the group's events, which were likely to start with workshops on subjects such as IT and dealing with the media.
The board is: Lara Northcroft, Scott Wikohika (Westpac), Missy Armstrong (Playtopia), Shontelle Bishara (Te Puni Kokiri), Nikolasa Biasiny-Tule (Tangatawhenua.com), Shanan Tana (Touch Media), Allison Lawton (Waiariki Institute of Technology), Debbie Guptill (Maori in Tourism Rotorua), Gina Rangi (Koi Consulting) and Mere George (Glenn Hawkins & Associates).
For more information see www.takiwai.co.nz.