Set your InstantPot to saute mode and when warm add in the bacon stirring continually.
When it has created a nice layer of bacon fat add in the onion and celery and saute for 5 minutes.
Now add in the garlic, caraway seeds and thyme and stir for 1 minute.
Add in the beef and stir and saute for another 5 minutes before turning off the saute mode.
Sprinkle over the paprika and stir before adding the tomato puree, beef stock and bay leaves, once all combined have a quick test for seasoning and add salt and pepper as required.
Place on the lid and cook on manual high pressure for 8 minutes.
Do a quick-release, remove the lid, and add in the diced parsnip, carrot and beans.
Check the seasoning again adding salt as required.
Replace the lid and cook on manual under high pressure for another 5 minutes.
Allow a 10 minute natural pressure release then quick-release any remeaining pressure.
Serve steaming hot.