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Step 1
Generously salt all sides of your short ribs.
Step 2
Set Instant Pot to sauté setting and add canola oil. When pot is hot, add short ribs and sear for 3-5 minutes per side until golden brown.
Step 3
Remove short ribs from pot and set aside. They won’t be fully cooked yet – that’s ok!
Step 4
Add onions, garlic, and mushrooms to pot and stir to combine. Cook 3-5 minutes, stirring occasionally, until mushrooms have softened and onion is translucent.
Step 5
Add salt and pepper to taste.
Step 6
Add tomato paste and stir to combine.
Step 7
Add balsamic vinegar and red wine to pot to deglaze. Make sure to scrape any browned bits off the bottom of the pan with your spoon or spatula! Bring to a simmer.
Step 8
When sauce reaches a simmer, press “cancel” on your Instant Pot to turn off the sauté setting.
Step 9
Add short ribs back to the pot, nestling them in with the onions and mushrooms.
Step 10
Lock the Instant Pot lid in place, move the valve to “sealing”, and set set the cook time for 50 minutes at high pressure. (If you’re using bone-in short ribs, cook for 65 minutes at high pressure).
Step 11
When cook time has finished, let pressure release naturally for 15 minutes, then do a quick release of any remaining pressure by carefully moving the valve to “venting.” Let the pot vent completely before removing the lid. (Always use caution and follow manufacturer directions when working with your Instant Pot).
Step 12
When Instant Pot has released all pressure, remove the lid.
Step 13
Remove cooked short ribs to a separate plate while you finish the sauce.
Step 14
In a small bowl or jar, combine the cornstarch and water and whisk until smooth to form a cornstarch slurry.
Step 15
Set Instant Pot to sauté. Add cornstarch slurry to sauce and stir to combine. Cook, stirring frequently, until the sauce thickens to a light gravy consistency, about 2 minutes. When sauce is thickened, turn off the Instant Pot.
Step 16
Time to eat! Top short ribs with a scoop of sauce, garnish with some fresh parsley (optional), and serve immediately.