Island produced one member of academy (7)
I believe the answer is:
madeira
'island' is the definition.
(I've seen this before)
'produced one member of academy' is the wordplay.
'produced' becomes 'made' ('make' can be a synonym of 'produce').
'one' becomes 'i' (Roman numeral).
'member of academy' becomes 'ra' (Royal Academician).
'made'+'i'+'ra'='MADEIRA'
(Other definitions for madeira that I've seen before include "Atlantic territory" , "Sponge-cake" , "Island in the Atlantic Ocean" , "Fortified Portuguese wine" , "Fortified wine from Atlantic island" .)