Add strawberries, lemon juice and sugar in the inner pot of instant pot.
After 10 minutes close the lid and cook on HIGH pressure for 1 minute.
Release the pressure naturally through the steam vent for 15 minutes.
Meanwhile, in a bowl, combine water and cornstarch. Stir until smooth.
Open the lid and add the cornstarch slurry in instant pot.
Select “Sauté” and boil the mixture.
Stir continuously until the mixture is thickened.
Turn the instant pot off and pour the jam in a container.