Due to concerns over global warming, the development of environmentally friendly products and services are urgently needed. However, in the period of downturn in corporate earnings, the companies are facing difficulties in investing new technologies and businesses, which would not become profitable soon. In this paper, current issues of corporate new businesses/corporate venturing and their solutions will be examined, by discussing the cases of IBM and Google, the two contrasting U.S. companies in the IT industry, which are completely different in their history and corporate culture. Corporate venturing in a large corporation tends to face the problems of short-term oriented and risk-averse corporate culture. The cases presented by IBM and Google indicate the ways in which the large corporations have succeeded in investing in new technologies and launching new businesses, from which Japanese businesses may find remedies to overcome the problems they are facing at the present time.