The Hatters - now fourth in League One - were a National League North side themselves as recently as 2019.
Cowan's Brackley side are the only Step 2 side remaining in this season's FA Cup and head to Edgeley Park knowing their opponents fell at this hurdle last season at the hands of Aldershot.
Their form should give them confidence, too. The Saints have lost just once in their last 16 outings in all competitions, a 1-0 win at Rushall their latest triumph.
Cowan knows Dave Challinor's thriving side will be a different test. But one he's up for.
"I hold the FA Cup very close to my heart and being a Non-League side at this stage is a massive, massive opportunity for us," he told the Non-League Paper.
"The league remains the priority but when you get to the second round of the FA Cup, especially as we've had to beat some very good teams to get there.
"We could go on all night about some of the upsets that have occurred in the FA Cup over the years and their game last year with Aldershot was certainly one of them.
"We can't look too deep into that, they're a completely different team and will be a different prospect for having that experience.
"But we can take courage from it and go there with no fear. We must try to be brave, courageous, and the best that we can be."