Fact it is in early development (7)
I believe the answer is:
reality
'fact' is the definition.
(I've seen this before)
'it is in early development' is the wordplay.
'is in' is an insertion indicator.
'development' indicates an anagram.
'early' is an anagram of 'realy'.
'it' put within 'realy' is 'REALITY'.
(Other definitions for reality that I've seen before include "Actual existence" , "The way things actually are" , "Truth, actuality" , "The world as it is" , "State of things as they actually exist" .)