diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index b487e983ab2..a6afef8ea9e 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 1.2.0b1
+current_version = 1.3.0a1
 parse = (?P<major>\d+)
 	\.(?P<minor>\d+)
 	\.(?P<patch>\d+)
diff --git a/core/dbt/version.py b/core/dbt/version.py
index 90be67d874e..1f432709d7b 100644
--- a/core/dbt/version.py
+++ b/core/dbt/version.py
@@ -235,5 +235,5 @@ def _get_adapter_plugin_names() -> Iterator[str]:
             yield plugin_name
 
 
-__version__ = "1.2.0b1"
+__version__ = "1.3.0a1"
 installed = get_installed_version()
diff --git a/core/setup.py b/core/setup.py
index 6d67a65aed7..776a71897a7 100644
--- a/core/setup.py
+++ b/core/setup.py
@@ -25,7 +25,7 @@
 
 
 package_name = "dbt-core"
-package_version = "1.2.0b1"
+package_version = "1.3.0a1"
 description = """With dbt, data analysts and engineers can build analytics \
 the way engineers build applications."""
 
diff --git a/docker/Dockerfile b/docker/Dockerfile
index caef7b94dff..5258f0b2351 100644
--- a/docker/Dockerfile
+++ b/docker/Dockerfile
@@ -14,8 +14,8 @@ FROM --platform=$build_for python:3.10.5-slim-bullseye as base
 # N.B. The refs updated automagically every release via bumpversion
 # N.B. dbt-postgres is currently found in the core codebase so a value of dbt-core@<some_version> is correct
 
-ARG dbt_core_ref=dbt-core@v1.2.0b1
-ARG dbt_postgres_ref=dbt-core@v1.2.0b1
+ARG dbt_core_ref=dbt-core@v1.3.0a1
+ARG dbt_postgres_ref=dbt-core@v1.3.0a1
 ARG dbt_redshift_ref=dbt-redshift@v1.0.0
 ARG dbt_bigquery_ref=dbt-bigquery@v1.0.0
 ARG dbt_snowflake_ref=dbt-snowflake@v1.0.0
diff --git a/plugins/postgres/dbt/adapters/postgres/__version__.py b/plugins/postgres/dbt/adapters/postgres/__version__.py
index 6e8eee9299d..a9fe3c3ee63 100644
--- a/plugins/postgres/dbt/adapters/postgres/__version__.py
+++ b/plugins/postgres/dbt/adapters/postgres/__version__.py
@@ -1 +1 @@
-version = "1.2.0b1"
+version = "1.3.0a1"
diff --git a/plugins/postgres/setup.py b/plugins/postgres/setup.py
index 86fe93773b3..14348e5041f 100644
--- a/plugins/postgres/setup.py
+++ b/plugins/postgres/setup.py
@@ -41,7 +41,7 @@ def _dbt_psycopg2_name():
 
 
 package_name = "dbt-postgres"
-package_version = "1.2.0b1"
+package_version = "1.3.0a1"
 description = """The postgres adapter plugin for dbt (data build tool)"""
 
 this_directory = os.path.abspath(os.path.dirname(__file__))
diff --git a/tests/adapter/dbt/tests/adapter/__version__.py b/tests/adapter/dbt/tests/adapter/__version__.py
index 6e8eee9299d..a9fe3c3ee63 100644
--- a/tests/adapter/dbt/tests/adapter/__version__.py
+++ b/tests/adapter/dbt/tests/adapter/__version__.py
@@ -1 +1 @@
-version = "1.2.0b1"
+version = "1.3.0a1"
diff --git a/tests/adapter/setup.py b/tests/adapter/setup.py
index c220932c3b0..32e615300f3 100644
--- a/tests/adapter/setup.py
+++ b/tests/adapter/setup.py
@@ -20,7 +20,7 @@
 
 
 package_name = "dbt-tests-adapter"
-package_version = "1.2.0b1"
+package_version = "1.3.0a1"
 description = """The dbt adapter tests for adapter plugins"""
 
 this_directory = os.path.abspath(os.path.dirname(__file__))