diff --git a/kwave/__init__.py b/kwave/__init__.py
index 93f8aee3..4f57dd81 100644
--- a/kwave/__init__.py
+++ b/kwave/__init__.py
@@ -9,7 +9,7 @@
 
 # Test installation with:
 # python3 -m pip install -i https://test.pypi.org/simple/ --extra-index-url=https://pypi.org/simple/ k-Wave-python==0.3.0
-__version__ = "0.4.1"
+__version__ = "0.5.0rc1"
 
 # Constants and Configurations
 URL_BASE = "https://github.com/waltsims/"