diff --git a/bioimageio/spec/VERSION b/bioimageio/spec/VERSION
index da6f5505c..d8b6a6c2b 100644
--- a/bioimageio/spec/VERSION
+++ b/bioimageio/spec/VERSION
@@ -1,3 +1,3 @@
 {
-    "version": "0.4.9"
-}
+    "version": "0.5.0"
+}
\ No newline at end of file