This is a classical result of Winograd: On multiplication of 2x2 matrices.
Strassen showed that the exponent of matrix multiplication is the same as the exponent of the tensor rank of matrix multiplication tensors: the algebraic complexity of $n\times n$ matrix multiplication is $O(n^\alpha)$ iff the tensor rank of $\langle n,n,n \rangle$ (the matrix multiplication tensor corresponding to the multiplication of two $n\times n$ matrices) is $O(n^\alpha)$. Strassen's algorithm uses the easy direction to deduce an $O(n^{\log_27})$ from the upper bound $R(\langle 2,2,2 \rangle) \leq 7$.
Winograd's result implies that $R(\langle 2,2,2 \rangle)=7$. Landsberg showed that the border rank of $\langle 2,2,2 \rangle$ is also 7, and Bläser et al. recently extended that to support rank and border support rank. Border rank and support rank are weaker (=smaller) notions of rank that have been used (in the case of border rank) or proposed (in the case of support rank) in the fast matrix multiplication algorithms.