diff --git a/Makefile b/Makefile
index 77321a6ac1b3..45422a6ee725 100644
--- a/Makefile
+++ b/Makefile
@@ -14,7 +14,7 @@
 
 # Bump these on release - and please check ISO_VERSION for correctness.
 VERSION_MAJOR ?= 1
-VERSION_MINOR ?= 34
+VERSION_MINOR ?= 35
 VERSION_BUILD ?= 0
 RAW_VERSION=$(VERSION_MAJOR).$(VERSION_MINOR).$(VERSION_BUILD)
 VERSION ?= v$(RAW_VERSION)