Yes, HATCHED is a Scrabble word!

Letter values in Scrabble US: H 4, A 1, T 1, C 3, H 4, E 1, D 2.

Is it a valid word?

HATCHED is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

emerge from the eggs
devise or invent
inlay with narrow strips or lines of a different substance such as gold or silver, for the purpose of decorating
draw, cut, or engrave lines, usually parallel, on metal, wood, or paper
sit on (eggs)

Also: think up, think of, dream up.