The U's overcame a terrible start to the game by fighting back well against John McGreal's under-21 side to equalise on a very cold afternoon, at the Town training ground.
Indecision in the Colchester defence in the opening minute cost them dear, as nobody dealt with the ball in their area.
It allowed Matty Roberts to score with a shot from a left-hand angle of the box.
However, the U's were level nine minutes later through Martin, who netted a hat-trick for the club's under-18s in their 3-2 win over QPR at the weekend.
All the best to Town U21s who take on Colchester United at Playford Road at 1pm. 👊
— IPSWICH TOWN (@IpswichTown) December 17, 2024
Martin got on the end of keeper Harrison Chamberlain's long kick forward and got between two home defenders before shooting past Ipswich goalkeeper Henry Gray, despite being off balance.
Chamberlain made a good block at his near post, while Luke Towler's effort was pushed down by the Colchester keeper.
Colchester went close when Max Jolliffe's shot bounced just wide while at the other end, Chamberlain was out blocking at the feet of Roberts.
Ollie Godziemski got in down the right, but keeper Henry Gray was out to block at his feet.
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The half ended 1-1 and there was an away change at the interval, as Archie Oliver replaced Alex Kokoshi.
After Roberts' shot was well blocked by Fela Abidkun, Taylor went down in the box but no penalty was given.
A triple chance by Colchester midway through the second half saw Kaleel Green, Rash Douglas and David Nkrumah on for Martin, Godziemski and Ronnie Harvey.
Elkanah Akor made a great run down the right but was cynically pulled down just out the box by substitute Ayyuba Jambang, who was rightfully booked.
Joel Thompson's resultant free-kick was excellent and Gray did well to save it.
Town U21 were held to a 1-1 draw by Colchester this afternoon. ⏱️
Full report. ⤵️
— IPSWICH TOWN (@IpswichTown) December 17, 2024
And neat play down the left saw Green find fellow substitute Oliver whose low shot was well watched by Gray, as Colchester pressed.
But neither side could find a winner, as the spoils were shared.
Colchester United U21: Harrison Chamberlain, Elkanah Akor, Fela Abidkun, Frankie Edwards, Joel Thompson, Max Jolliffe, Ronnie Harvey (sub David Nkrumah, 67), Alex Kokoshi (sub Archie Oliver, 46), Kai Martin (sub Rash Douglas, 67), Hakeem Sandah, Ollie Godziemski (sub Kaleel Green, 67). Sub (not used): Zach Akinde.