diff --git a/Makefile b/Makefile
index 6fc6453ce7..966416b848 100755
--- a/Makefile
+++ b/Makefile
@@ -14,7 +14,7 @@
 
 # Bump these on release
 VERSION_MAJOR ?= 0
-VERSION_MINOR ?= 32
+VERSION_MINOR ?= 33
 VERSION_BUILD ?= 0
 VERSION ?= v$(VERSION_MAJOR).$(VERSION_MINOR).$(VERSION_BUILD)
 DEB_VERSION ?= $(VERSION_MAJOR).$(VERSION_MINOR)-$(VERSION_BUILD)
@@ -27,7 +27,7 @@ HYPERKIT_BUILD_IMAGE 	?= karalabe/xgo-1.10.x
 BUILD_IMAGE 	?= k8s.gcr.io/kube-cross:v1.11.1-1
 ISO_BUILD_IMAGE ?= $(REGISTRY)/buildroot-image
 
-ISO_VERSION ?= v0.32.0
+ISO_VERSION ?= v0.33.0
 ISO_BUCKET ?= minikube/iso
 
 MINIKUBE_VERSION ?= $(ISO_VERSION)