29 Jan IU Angel Network Gives Member Sumaya Abdurrezak Window Into The World Of Startups
Sumaya Abdurrezak loves being a member of IU Ventures’ IU Angel Network.
“It’s great to have a window into the world of IU-affiliated startups,” she said. “I love being part of a community with other IU and Kelley School graduates—smart, sharp, down-to-earth people—and being a catalyst to spark conversations to help facilitate learning.”
Abdurrezak first learned about IU Ventures in early 2023, when she met Jason Whitney, IU Ventures Chief Venture Officer and the Executive Director of the IU Angel Network at a “Friends of Indiana Reception” at CES in Las Vegas, hosted by the Indiana Economic Development Corporation and IU Ventures.
The IU Angel Network facilitates connections between startup companies and prospective investors among Indiana University’s global community of alumni, faculty, staff, students and friends, to further Indiana University’s mission of fostering a pervasive entrepreneurial culture that contributes to the prosperity of the State of Indiana, the nation and the world. At the time, Abdurrezak, who lives in the greater Seattle area, was working full time as a project manager at Egencia, part of American Express Global Business Travel, and pursuing an MBA from IU as part of the Kelley Direct Online MBA program. While working and getting her Master’s degree kept her incredibly busy, she appreciated the unique learning experience the combined program offered.
“What I found most valuable is that we would learn something in class, and I could apply it at work the next day,” she explained. “The ability to practice what you learn immediately afterwards is incredibly valuable.”
When Abdurrezak graduated in May 2023, she realized she had time and wanted to find a way to give back. She had kept in touch with Whitney and decided to become an educational member of the IU Angel Network because of the time she spent working in startups, including travel and video interviewing companies. “I remember a lot of the lessons we learned the hard way, being in the trenches,” she noted. “Being a part of IU Ventures allows me to pose questions to founders that they might not necessarily think about, helping them to consider something they haven’t considered, or nudging them in a way that might be beneficial.”
As an educational member, Abdurrezak can’t invest, but she appreciates witnessing the new crop of startups first hand, and exposing herself to innovation in a wide variety of industries. She also believes she brings a different perspective into the group. “My background is unusual in that I started working in the public sector and government and then left to work in the private sector,” Abdurrezak said. “I always think, how does this impact people, how can we have more people involved, and are there other people who can add value? I believe there is a lot of value in different ideas, different approaches, and different experiences.”
When asked what advice she might have for young entrepreneurs, Abdurrezak had a lot to say. “I’ve noticed that over the last 10-15 years going into the startup world has been so romanticized, and I think it is helpful to have a gut check about the realities of startup life,” she noted. “Also, it is especially important to surround yourself with people who will challenge you and have expertise you don’t have. And don’t be afraid of mistakes. Mistakes are good feedback for what you can do differently.”
While she thinks it is great for first-time founders to start early, she also wants to encourage those who are further along in their careers to think about what they might have to offer. “Don’t discount what you know and consider doing your own thing,” she suggested. “Some may say, I’m too old—but if you don’t take the first small step to explore your idea, you won’t know. Personally, I don’t want to look back and say I wish I did that.”
While Abdurrezak currently works in corporate America, there is part of her that believes she will return to the startup world again. “Part of me is itching to get back to startup work,” she said. “Being part of the IU Angel Network helps me think about what I might want to do in the future.”
Learn more about the IU Angel Network here: https://iuventures.com/investors/investors-FAQ/
About IU Ventures:
IU Ventures invests in and supports IU-affiliated early-stage companies. Its investment programs include the IU Philanthropic Venture Fund, IU Angel Network, Shoebox Fund and Innovate Indiana Fund. It further supports IU founders through the Executive in Residence Program and IU Founders and Funders Network. Student support is provided through a variety of engagements, including the new IU Venture Fellows Program. Each program takes unique approaches to accelerate and support the positive impacts that entrepreneurs affiliated with IU already achieve across the world. IU Ventures is a recognized leader in increasing opportunities for diverse and historically underserved entrepreneurs and investing in Indiana startups with a shared commitment to diversity, equity and inclusion.