Research internships and the students seeking them. Learn about internships and what are the principle motivations for giving and getting one. Also, take some time to examine student culture and trends. The pool of interns that you will be using is going to come with personal and generational ideas.
Research the colleges and universities that you are interested in getting interns from. Figure out if you want students to come from your alma mater or not. Each school will have its own requirements in setting up an internship program.
Evaluate yourself and your organization or business. Examine your schedule and see if you can devote adequate time to an intern; if you cannot, see if you have reliable staff to do this for you. Moreover, figure out if you have the capacity to have an intern. For instance, infrastructural things like the size and location of your office are things to consider. Also, some colleges and universities might have organizational standards that you have to be sure you meet.
Select the intern supervisor.
Set up an appointment with the college and universities' career services staff. Often times, the director and internship coordinator are key people with access to a wealth of information and can answer any of your questions.
Design the internship. Create the internship's measurable learning objectives, time period, daily responsibilities, projects that you would like the intern to work on, evaluation plan, policies and expectations. Not only will this keep you on track but most institutions require these basic design elements to be clearly stated on an agreement form.
Post the position. Ask for it to appear on the college or university's website; online bulletins or internship database are great places to spread the word about your internship.