You will need to run the svnserve daemon on your computer, or run an apache server with the necessary modules, to allow your colleague to access this locally stored repository. For a simple case like this I would recommend svnserve, it should be simpler to configure and run.
The url would then be:
svn://<your_ip>/<repository_name>
As opposed to an http or file protocol URL for apache and local filesystem based repositories.
Read this page for details on how to set up svnserve it on Windows:
http://tortoisesvn.net/docs/release/TortoiseSVN_en/tsvn-serversetup-svnserve.html