At a launch hosted by Sturt Street's CycleScape on Friday, FECRI director George Kannourakis introduced the Classic's new 'Gravel Grind' event which organisers hope will help achieve a record combined 100,000 kilometres of distance travelled by participants and reach its $250,000 fundraising goal next year.

The new event will be a 45-kilometre short course gravel ride in Creswick Forest to be held on Saturday, February 19.

After a pared-back event last year, Mr Kannourakis said he hopes the expanded 2022 Cycle Classic will bring a greater number of travellers to Ballarat to "enjoy the community and support here, and be a bit of a boost for the economy of the city".

"It's really fantastic to see this blossom 15 years in a row and it's getting bigger and bigger," Mr Kannourakis said.

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The director said next year's event will see the return of the Classic's popular entertainment village, which was scaled-down in 2021 due to COVID-19 restrictions.

"We'll have the village atmosphere back again," Mr Kannourakis said.

"There'll be entertainment and food stalls back which is one of the best things about the ride.

"That's one change that I think will be welcome by everyone."

Mr Kannourakis was also grateful for the event's local sponsors whom he said had enabled total proceeds from registrations and donations to be contributed to FECRI.

"We want to break $250,000 of pure profit for the institute," he said.

"It will only be made possible because our sponsors have allowed us to cover the costs of the event."

All previous years' cycling events, including the 160-kilometre SPUD100 ride, named after local AFL legend Danny Frawley, will take place on Sunday, February 20.

In attendance for the city's 15th Cycle Classic launch were event ambassadors and local sporting heroes Jessica Douglas and Steve Moneghetti who both highlighted the significance of the event's fundraising for FECRI.

"For anything to progress and for new breakthroughs to come, research is really important," Ms Douglas said.

A cancer survivor herself, Ms Douglas said the event's initiative deeply resonated with her.

"Until you're hit by it, or know people, or have that first hand experience, you don't really see what the money is doing," she said.

"My hope is that awareness becomes higher in people's minds."

For Mr Moneghetti, the work of the FECRI centre and the event's honouring of Fiona Elsey's memory were at the forefront of his mind.

"It's such an important thing for the town," he said.

"We remember Fiona, and we should as it's all for a terrific cause.

"It's nice to think that the combined effort of what everybody's doing will get really positive outcomes."

Registrations for the 2022 Ballarat Cycle Classic are now open online with all proceeds from fees going to cancer research.

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