The National League North side have agreed a new link with the Championship Baggies, which will see Albion play their under-23 Premier League 2 fixtures at the New Bucks Head.
The partnership is also likely to see some talented Albion academy prospects link up with Cowan's men on loan deals. Telford previously had an agreement with Wolves, which ended a year ago.
The Bucks are in the process of formally beginning their relationship with West Brom, who are under new management. There has also been change higher up at The Hawthorns, as technical director Luke Dowling departed last month.
Cowan said: "I'm pleased, it's always great to link in with a club of that quality.
"From our perspective we want to try to build relationships with them first and foremost, it's not something we've been able to do yet because I think they've got a lot of new positions there.
"But over the coming months we want to try to build relationships with them and if we can help benefit them and they can benefit us then great.
"It's great we can host them for some of their games and we'll know a lot more moving forward."
Cowan feels linking with top local clubs is a 'no-brainer' due to opportunities to assist each other. Telford played a friendly against Birmingham City's under-23s over the weekend as they look to further relations with another of the region's clubs.
The boss added: "There are so many benefits, it's a no-brainer, clubs at that level should really be tapping into our level and offering that support.
"And obviously there's things we can do to support them as well."