Chop and cook the bacon in two frying pans to allow for room for it to crisp up properly. Cook over medium heat until it browns perfectly. You want the bacon a little crisper with as little visible fat as possible. Transfer to paper towels to drain excess fat off.

Leave about 1 to 2 tablespoons of the fat in one of the pan. Add chopped shallot and onion to the pan, cook over medium heat until they start to caramelize. Add the garlic and cook for about one more minute. Add the chili powder and smoked paprika, stir to combine

Increase heat to high and add the bourbon (carefully) and maple syrup. Bring to a boil, stir and scrape the pan so all the little bacon bits comes loose Continue boiling for about 2 to 3 minutes. Add vinegar and brown sugar, continue to boil for about 3 minutes.

Toss the bacon into the pan, reduce heat to low and simmer for about 10 minutes, the mixture will thicken and look jam like in the process. Turn off the stove top, jam will continue to thicken at this point.