Instructions

1. Select the "SAUTE" function on your Instant Pot.  Add the bacon and water to the pot and cook, stirring occasionally, until it begins to brown.  
2. While the bacon is cooking, add the beef stew meat, flour, salt and pepper to a large bowl.  Stir to coat.
3. After the bacon has finished cooking, remove it from the Instant Pot and set aside.  Add 2 Tablespoons of butter to the Instant Pot and stir until melted.  Add the beef stew meat and cook, undisturbed for about 3 minutes.  Stir the beef and let it cook for another 3 minutes.  Transfer the beef back to the bowl.
4. Add the remaining Tablespoon of butter and the carrots, pearl onions, mushrooms, garlic and bacon to the Instant Pot and saute for 4 minutes.  Add the wine, tomato paste, and stock and deglaze the pot, using a wooden spoon to scrape the browned bits from the bottom. 
5. Return the browned beef to the pot and stir.  Secure the lid in place. Set the pressure to high and cook for 30 minutes, making sure that the valve is set to sealing.  After the cooking time is up, let the pressure naturally release for 10 minutes and then do a quick release by moving the valve to "venting."
6. In a small bowl, whisk the cornstarch and 3 Tablespoons of broth from the hot beef bourguignon.  Add the mixture back into the pot, stir and select the sauté option.  Let simmer for about 5 minutes to thicken, stirring constantly.