Shekhar Kapur, who helmed the Oscar winning film 'Elizabeth', is set to direct 'Little Dragon', an authorised biopic of the martial arts legend and actor Bruce Lee.

The story is a contemporary dramatisation of the 1950s Hong Kong social and political forces that shaped Bruce Lee into the most famous martial arts star and a significant modern day philosopher, reports an international media source.

"It is important that audiences today can relate their own lives to the journey of Bruce Lee, who manages to tap into his inner wisdom and harness his true destiny before it was too late," said Kapur, who will begin work on the project after completing duties on 10-part TV series "Will".

Production on the Bruce Lee project is by Bruce Lee Entertainment, a company operated by the late star's daughter Shannon Lee, along with Los Angeles-based Convergence Entertainment.

Shannon conducted significant new research into her father's youth and formative years, a subject which has previously been explored in numerous movies including 'The Grandmaster' and the "Ip Man" franchise films.

Kapur, who also serves as one of the executive producers, co-wrote the "Little Dragon" screenplay with Shannon.

"I always thought that a film about how my father's life was shaped in his early years in Hong Kong would be a worthwhile story to share so we could better understand him as a human being and a warrior," said Shannon.

Pre-production is now underway, ahead of an anticipated shoot from July in Malaysia.

The film is structured as a US, Hong Kong and China co-production financed by Dadi Media Group, Beijing Golden World Pictures, Shanghai Longzhilin Cultural Investment Partnership and Kirin Media.

To release 10th July. $100m series on young #williamshakespeare Watch this https://t.co/CrxLGhNeLf Now to Bruce Lee! https://t.co/RJGBSYfYyj

— Shekhar Kapur (@shekharkapur) May 8, 2017