diff --git a/CMakeLists.txt b/CMakeLists.txt
index f54efbefab1..677f6346436 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -18,7 +18,7 @@ cmake_minimum_required(VERSION 2.8)
 
 set(PROJECT_NAME "Intel(R) MKL-DNN")
 set(PROJECT_FULL_NAME "Intel(R) Math Kernel Library for Deep Neural Networks (Intel(R) MKL-DNN)")
-set(PROJECT_VERSION, "0.1")
+set(PROJECT_VERSION, "0.2")
 
 set(LIB_NAME mkldnn)
 
diff --git a/README.md b/README.md
index b21d897325d..d416dc2c73d 100644
--- a/README.md
+++ b/README.md
@@ -1,6 +1,6 @@
 # Intel(R) Math Kernel Library for Deep Neural Networks (Intel(R) MKL-DNN)
 [![Apache License Version 2.0](https://img.shields.io/badge/license-Apache_2.0-green.svg)](LICENSE)
-![v0.1 technical preview](https://img.shields.io/badge/v0.1-technical_preview-orange.svg)
+![v0.2 technical preview](https://img.shields.io/badge/v0.1-technical_preview-orange.svg)
 
 Intel(R) Math Kernel Library for Deep Neural Networks (Intel(R) MKL-DNN) is an
 open source performance library for Deep Learning (DL) applications intended