Add the beef to the Instant Pot. Then add the beer, bacon, onion, garlic, brown sugar, salt and pepper. Stir together then secure the lid in the locked position.
Make sure the lever is set to seal. Press the manual button and set the time for 20 minutes.
When the time is up let the pressure manually release for 10 minutes, then release the pressure and remove the lid.
Remove 1/4 cup of the liquid from the Instant Pot and whisk together with the cornstarch in a separate bowl. Add it back to the Instant Pot and set it to sauté. Cook for 5 minutes or until the gravy thickens.